PITTSBURGH (AP) _ American Eagle Outfitters Inc. (AEO) on Wednesday reported net earnings of $ 3.5 million for the fourth quarter of its fiscal year.
The Pittsburgh-based company said it had earnings of 2 cents per share. Adjusted for one-time costs, earnings were 39 cents per share.
The results exceeded Wall Street’s expectations. The average estimate by nine analysts surveyed by Zacks Investment Research was earnings of 36 cents per share.
The youth clothing retailer had sales of $ 1.29 billion for the period, also beating Street’s forecasts. Five analysts surveyed by Zacks expected $ 1.28 billion.
American Eagle shares are up 27% since the start of the year. In the last few minutes of trading on Wednesday, stocks hit $ 25.43 and have more than doubled in the past 12 months.
This story was created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks share report on AEO at https://www.zacks.com/ap/AEO