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Farmers Hit the Jackpot in Kansas Oil Boom
On Tuesday, November 24, American Eagle Outfitters (AEO) stepped into the earnings spotlight, reporting that third-quarter earnings came in at 28 cents per share. Taking a tax benefit out of the equation, AEO would have earned 21 cents per share, falling a penny shy of the consensus estimate.
Quarterly sales dropped to $749 million from $754 million, with same-store sales falling off 4%. AEO did not provide a fourth-quarter forecast, which it will do when it reports November sales on December 3; this will allow the company to account for the sales from the Thanksgiving weekend.
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