American Eagle September sales better than expected

Thu. October 08, 2009; Posted: 12:03 PM

Oct 08, 2009 (Pittsburgh Post-Gazette - McClatchy-Tribune Information Services via COMTEX) -- AEOS | Quote | Chart | News | PowerRating -- American Eagle Outfitters, helped by a later back-to-school rush and a good reaction to styles and promotions introduced late in the month, reported that September sales were better than expected and third-quarter earnings should be better, too.

Sales at stores open at least a year were flat in the five weeks ended Oct. 3, an improvement over the 6 percent drop that the South Side teen retailer saw during the comparable period last year as the nation's economy buckled.

Total sales for the month rose 7 percent to $246 million compared to $229.2 million last year.

The company is now projecting earnings for the third quarter will be in the range of 24 to 26 cents per share, rather than the 22 to 25 cents per share earlier projected. Both estimates included an expected tax benefit of approximately 5 cents per share.

Last year's third quarter earnings were 30 cents per share.

Analysts polled by Thomson Financial Network had been looking for an average of 20 cents per share for this year's third quarter.

For the year so far, American Eagle total sales are down 3 percent from the same period last year while sales at established stores are down 8 percent compared to 7 percent last year.

The retailer's first holiday merchandise should be arriving in stores Oct. 21.

American Eagle operates more than 950 American Eagle stores, 133 aerie intimate apparel stores, 28 Martin + Osa stores in addition to selling goods online through those brands and through the 77kids children's clothing line.

Teresa F. Lindeman can be reached at tlindeman@post-gazette.com or at 412-263-2018.

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