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American Eagle quarterly revenue beats expectations

Clothing is seen for sale in an American Eagle Outfitters retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Mike Segar

Apparel retailer American Eagle Outfitters Inc (AEO.N) beat first-quarter revenue estimates on Wednesday, benefiting from easing restrictions and stimulus checks that boosted spending on clothes as people look forward to dressing up for outings.

Total net revenue jumped to $1.03 billion in the quarter, its first rise in a year, from $551.7 million a year earlier. Analysts were expecting revenue of $1.02 billion, according to IBES data from Refinitiv.

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Source: Reuters

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