American Eagle's stock gains altitude on strong holiday performance
American Eagle Outfitters Inc.'s stock (AEO) rose 4.1% in premarket trading on Monday after the clothing retailer said it's raising its fourth-quarter outlook to a gain of low double digits, following a successful holiday season. The company now expects operating profit of about $130 million, up from previous guidance of $105 to $115 million. Analysts were expecting operating income of $113 million, according to FactSet consensus estimates. "The improved outlook is a result of record holiday sales and strong merchandise margins," the company said.
-Steve Gelsi
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01-08-24 0816ET
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