American Eagle Outfitters misses revenue estimates as digital sales fall By Reuters

September 2, 2021 admin Stock News 0

© Reuters. FILE PHOTO: A view of an American Eagle Outfitters store in Arlington, Virginia, U.S., June 1, 2021. REUTERS/Erin Scott

(Reuters) – American Eagle Outfitters (NYSE:) Inc missed quarterly revenue estimates on Thursday, hurt by a slowdown in its online business as people shop more at physical stores following vaccination drives and easing of coronavirus curbs.

Digital revenue decreased 5% from a year earlier in the second quarter ended July 31, while consolidated revenue from its stores increased 73% as more people visited its stores.

Total net revenue jumped to $1.19 billion from $883.5 million a year earlier. Analysts on average expected $1.23 billion, according to Refinitiv IBES.

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