Shares of American Eagle Outfitters, Inc. (AEO) were down 10.2% on Thursday to close at $27 after the lifestyle, clothing, and accessories retailer reported mixed Q2 results, topping earnings expectations but falling short of the revenue estimates. Investors were disappointed by the 5% decline in the e-commerce business as consumers shift back to physical stores following the easing of COVID-19-induced restrictions. Revenues jumped 35% year-over-year to $1.19 billion but lagged consensus estimates of $1.21 billion. The increase in revenues reflected a surge in Aerie revenue, which increased 34% to $336 million, as well as 35% growth in American Eagle revenue to $846 million. Disappointingly, digital revenue decreased 5% year-over-year.
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American Eagle Outfitters (NYSE:AEO)
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