American Eagle Outfitters (AEO) Reports In-Line Q3 Revenue

American Eagle Outfitters (NYSE: AEO) reported Q3 EPS of $0.42, may not compare to the analyst estimate of $0.23. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.21 billion.

Outlook:

For the fourth quarter, the company is guiding brand revenue down in the mid single digits, and expects brand comps to be consistent with the third quarter. The company is also guiding fourth quarter gross margin in the range of 32% to 33%, at the higher end of previous guidance. While significant progress has been made in right-sizing inventory, management is taking a cautious view given what is likely to be a highly promotional Holiday season.

Management continues to drive expense reductions across store payroll, corporate expense, professional services and advertising. The company remains on track to deliver $100 million in reductions to the original plan and expects SG&A dollars in the fourth quarter to be approximately flat to last year.

For earnings history and earnings-related data on American Eagle Outfitters (AEO) click here.

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