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 story : American Eagle Outfitters shares jump as Q1 revenue approaches billion #FinanceUSA #StockMarketNEWS American Eagle Outfitters Inc. stock rose nearly 5% in Thursday premarket trading after the retailer's

@stockMarketNEWS Thu 15 Apr, 2021

Posted in: #FinanceUSA #StockMarketNEWS

American Eagle Outfitters shares jump as Q1 revenue approaches billion #FinanceUSA #StockMarketNEWS
American Eagle Outfitters Inc. stock rose nearly 5% in Thursday premarket trading after the retailer's first-quarter business update showed revenue that is "on track" to exceed billion. "Demand has accelerated across the American Eagle and Aerie brands, generating strong margins, higher full-priced selling and reduced promotions," the company said. The FactSet sales consensus is for 4 million. American Eagle is scheduled to report first-quarter earnings on May 1. BMO Capital Markets expects the momentum to continue into the second quarter. "[T]ighter industrywide inventory, coupled with stronger consumer demand, bolstered by stimulus is presenting a trifecta yielding a surge in spending power at a time when demand is already outstripping supply," analysts wrote in a note. BMO rates American Eagle market perform with a price target, up from . American Eagle stock has rallied 64.3% for the year to date while the S&P 500 index has gained 9.8% for the period.


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