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May 21, 2014
08:01 EDTAEOAmerican Eagle reports Q1 EPS 2c, consensus 0c
Reports Q1 revenue $646M, consensus $647.74M. Reports Q1 SSS down 10%. Jay Schottenstein, Interim CEO stated, “Results were consistent with our expectations. The quarter reflected weak sales and increased markdowns. We are committed to improved profitability and are working hard to implement our plan to strengthen our brands, channels and operations. Specific actions underway include continuing to build strong omni-channel capabilities, rationalizing our store fleet, reducing expenses, growing international licensed stores, and most importantly, delivering great merchandise and customer experience across our brands. Our focus is on leveraging our strong brands and talented team in order to deliver long-term profitable growth and enhanced value for our shareholders.”
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