Q2 revenue misses analyst expectations, shares fall (Il Sole 24 Ore Radiocor) - New York, 29 Aug - US outfitter American Eagle said its revenue in the second quarter, ended August 3, rose 8% to a record 1.291 billion dollars. Analysts had expected 1.31 billion dollars.

Diluted earnings per share in the period rose to 0.39 dollars from 0.25 a year earlier as profits were helped by lower product costs. The number was above market expectations for 0.38 dollars.

The apparel group said its operating profit in the three months had risen 55% from the previous year to 101 million dollars.

'Our Powering Profitable Growth strategy is off to a great start, locking in a strong first half and setting us on track to achieve the high end of our prior operating profit outlook for 2024. The second quarter marked our sixth consecutive quarter of record revenue and we successfully leveraged our cost base advancing a number of strategic priorities to fuel growth across brands and channels and drive operating efficiencies,' CEO Jay Schottenstein said.

At 1315 GMT, shares were down 7.8% in premarket trade.

AAA-Sje

(RADIOCOR) 29-08-24 15:16:41 (0391) 5 NNNN