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Stock Market & Financial Investment News

News Breaks
September 9, 2013
17:15 EDTAEOAmerican Eagle to close distribution center, take $13M-$15M charge
American Eagle disclosed in a regulatory filing that on September 5, the company announced its plans to close its Warrendale, PA distribution center and transfer the operations to its new Hazelton, PA facility. The Hazelton facility is under construction and is expected to open in 2Q14. The transition of store distribution operations from Warrendale to Hazelton is scheduled to begin in early 2015 and is anticipated to be completed by July 2015. In connection with the decision, the company expects to incur after-tax charges of $13M-$15M, which will primarily be incurred in Q3. These charges are comprised of the following after-tax amounts: $2M-$3M of severance and employee related costs; $11M-$12M of non-cash asset impairment charges. The company says the pre-tax cash outflow for severance and employee related costs are estimated to be $4M-$5M to be paid in FY15.
News For AEO From The Last 14 Days
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March 27, 2015
10:03 EDTAEOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AEGON (AEG) downgraded to Neutral from Buy at Goldman... Alkermes (ALKS) downgraded to Neutral from Buy at Citigroup... American Eagle (AEO) downgraded to Sell from Neutral at Goldman... ArcelorMittal (MT) downgraded to Sell from Neutral at Citigroup... Black Diamond (BDE) downgraded to Sell from Hold at Feltl... Diodes (DIOD) downgraded to Outperform from Strong Buy at Raymond James... EMC (EMC) downgraded at Pacific Crest... Epizyme (EPZM) downgraded to Neutral from Buy at Citigroup... FutureFuel (FF) downgraded Neutral at Roth Capital... GameStop (GME) downgraded to Neutral from Buy at B. Riley... MSC Industrial (MSM) downgraded to Neutral from Outperform at RW Baird... Pioneer Energy (PES) downgraded to Hold from Buy at Deutsche Bank... Power Integrations (POWI) downgraded to Market Perform at Raymond James... Precision Drilling (PDS) downgraded to Hold from Buy at Deutsche Bank... SanDisk (SNDK) downgraded to Hold from Buy at Evercore ISI... Semtech (SMTC) downgraded to Outperform from Strong Buy at Raymond James... Swiss Re (SSREY) downgraded to Hold from Buy at Jefferies... Vantiv (VNTV) downgraded at SunTrust... Vivendi (VIVHY) downgraded to Underperform from Outperform at Exane BNP Paribas... WESCO (WCC) downgraded to Neutral from Outperform at RW Baird... World Acceptance (WRLD) downgraded to Underperform from Neutral at Macquarie... Zurich Insurance (ZURVY) downgraded to Neutral from Buy at Goldman.
05:52 EDTAEOAmerican Eagle downgraded to Sell from Neutral at Goldman
Goldman Sachs downgraded American Eagle (AEO) to Sell saying it sees 29% downside risk over the next six months. Goldman believes declining mall traffic and "aggressive competition" from low cost stores puts the retailer in a multi-year period of diminishing productivity, margins, and returns. Its six-month price target for American Eagle is $12. Shares of the retailer closed yesterday up 17c to $16.92. Goldman lists Ann Inc. (ANN), Abercrombie & Fitch (ANF) and American Eagle as its top sell ideas in the Specialty Apparel space. Its lone Buy rated name in the group is Urban Outfitters (URBN).
March 25, 2015
09:25 EDTAEOAmerican Eagle announces license agreements in Chile, Peru
American Eagle Outfitters (AEO) announced plans to further expand its global retail presence with a series of licensed stores throughout Chile and Peru. The company has signed a multi-year license agreement with Eurofashion Limitada, a Chilean company and division of Cencosud (CNCO). The agreement includes American Eagle Outfitters stores, which will offer the American Eagle Outfitters and Aerie assortments. The first stores are expected to open in Chile in 3Q15 and in Peru in early 2016.

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