American Eagle Shares Drop 13% On Weak Holiday Forecast

Benzinga 2024-12-05

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American Eagle shares fell 13% in extended trading Wednesday after reporting third-quarter earnings that included weak holiday guidance and a cut to its full-year forecast. The company is grappling with value-conscious consumers spending selectively during key shopping periods. The retailer narrowly missed revenue expectations but exceeded earnings estimates. Aerie remained bright, achieving record revenue and 5% comparable sales growth in the third quarter. American Eagle’s cautious outlook contrasts with upbeat revisions from competitors Abercrombie & Fitch and Dick’s Sporting Goods.

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