EmailAmerican Eagle (AEO $11.62) reported second quarter earnings of $0.10
per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.11.
Revenues rose 3.7% year/year to $676 million versus the $649.9 million
consensus.
In the third quarter, the company expects to see earnings in the range of $0.22
to $0.27 versus the $0.26 Capital IQ Consensus Estimate. In fiscal year 2012,
the company sees earnings of $0.85 to $0.95, prior guidance was for EPS similar
to prior year's $1.02, versus the $0.93 Capital IQ Consensus Estimate.
Gross profit was 34.3% as a rate to sales versus 36.8% last year... Looking
ahead to the third quarter, inventories are planned similarly to second quarter
end, reflecting the impact of higher product costs, the company's investments in
year-round key items and the accessory expansion initiative.
The company continues to expect capital expenditures in the range of $90 million
to $100 million, with slightly more than half related to new and remodeled
stores. Although the co has tempered sales expectations for the second half,
particularly during non-peak shopping periods, sales are planned to strengthen
from the first half of the year, driven by investments in key items. The
back-to-school trend is positive and promotional activity is on plan. As
previously noted, higher cotton costs are expected to pressure the second half
merchandise margin, and SG&A dollars are planned to increase in the low
single-digits for the third quarter and the year.
than one year.
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