Aug 6 (Reuters) - American Eagle Outfitters Inc estimated second-quarter profit far below estimates, citing weak sales and lower margins, sending its shares down 12 percent after market.
The company said it expects earnings of about 10 cents per share. Analysts on average were expecting profit of 21 cents per share, according to Thomson Reuters I/B/E/S.
The results were hurt by weak performance of the AEO women’s assortment and weak traffic, Chief Executive Robert Hanson said in a statement.
American Eagle’s shares were trading at $17.50 post-market. They had closed at $19.97 on the New York Stock Exchange on Monday.