American Eagle signals weak revenue growth in holiday quarter

American Eagle signals weak revenue growth in holiday quarter

By

Reuters

American Eagle Outfitters


Photo: American Eagle Outfitters

The company forecast fourth-quarter revenue to rise in the mid-to-high teens percentage, lower than market estimates of 21.5% growth, according to Refinitiv data.

The weak outlook underscored the impact of a renewed surge in U.S. COVID-19 cases, which forced worsened staffing and inventory shortages at several retailers and forced some to cut operating hours during the busiest shopping period of the year.

Urban Outfitters

American Eagle rival Abercrombie & Fitch

But Abercrombie said it sales have started rising in the post-holiday period, while American Eagle raised its long-term revenue target to $5.8 billion from $5.5 billion.

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