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American Eagle posts surprise rise in comparable sales
May 17, 2017 / 12:16 PM / 6 months ago

American Eagle posts surprise rise in comparable sales

May 17 (Reuters) - American Eagle Outfitters Inc reported a surprise rise in quarterly comparable-store sales as strong demand for its Aerie line of lingerie lifted the teen apparel retailer’s sales amid a tough retail climate.

The company’s comparable sales rose 2 percent in the first quarter ended April 29, beating analysts’ average estimate of a 0.7 percent decline, according to research firm Consensus Metrix.

Net income fell to $25.24 million, or 14 cents per share, in the quarter, from $40.48 million, or 22 cents per share, a year earlier.

The company incurred $5.4 million pre-tax restructuring charges for severance and related charges in the quarter.

Net revenue rose 1.66 percent to $761.83 million. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Arun Koyyur)

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