USA: American Eagle Profit Slumps 50%, Sales Fall
Youth-oriented apparel chain American Eagle Outfitters Inc on Thursday revealed a 50 per cent slide in first quarter net profit on the back of weak April sales. The Pennsylvania-based operator of more than 850 outlets under the American Eagle, Bluenotes and Thriftys banners reported earnings of $6.4 million, or nine cents per share, compared to $12.7m, or 17 cents per share, in the year-ago period.
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