March 4, 2020 / 9:12 PM / a month ago

American Eagle Outfitters beats estimates for quarterly revenue

March 4 (Reuters) - American Eagle Outfitters Inc beat market estimates for fourth-quarter revenue on Wednesday, benefiting from higher demand for the apparel retailer’s jeans and Aerie label, which includes intimate wear and activewear.

The company’s shares were up 5% in after-market trade.

Total net revenue rose to $1.31 billion in the three months ended Feb. 1, from $1.24 billion a year earlier, above the average analysts’ estimate of $1.27 billion, according to IBES data from Refinitiv.

Net income fell to $4.8 million, or 3 cents per share, from $76.2 million, or 43 cents per share, a year earlier, as the company took an impairment, restructuring and related charges of about $76 million pre-tax charge. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber)

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