American Eagle August revenue comparison up 1 percent, about even with analyst estimates

American Eagle key revenue figure rises 1 percent

PITTSBURGH — Teen retailer American Eagle Outfitters Inc. said Thursday that its August revenue in stores open at least a year rose 1 percent, about even with analyst estimates.

Analysts had expected the figure to rise 1.1 percent, according to Thomson Reuters. Measuring revenue in stores open at least a year is a key indicator of a retailer’s performance because it excludes results from stores that open or close during the year.

Total revenue for the four weeks that ended Aug. 28 rose 3 percent to $312 million from $304 million. The company said solid demand for its denim and knit tops helped lift the average check per transaction. So far this year, revenue in stores open at least a year is up 2 percent while total sales have risen 4 percent to $1.61 billion.

The company completed the closure of its MARTIN+OSA stores during the second quarter.

The company said it continues to expect third-quarter revenue at stores open at least a year to be flat to down in the low-single digits, assuming more conservative customer traffic following peak back-to-school shopping. The retailer expects to post earnings from continued operations of 23 cents to 26 cents per share, excluding a tax benefit.

On average, analysts are expecting quarterly profit of 25 cents per share.