Retail

American Eagle says first-quarter sales set to top $1 billion

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A shopper walks past an American Eagle store in the mall.

Tim Boyle | Getty Images News | Getty Images

American Eagle Outfitters announced Wednesday that its business is pacing ahead of its expectations for the fiscal first quarter, as stimulus checks and pent-up demand are fueling sales of jeans, dressier tops and leggings.

Revenue is on track to top $1 billion, it said. Analysts had been calling for American Eagle to earn 23 cents a share on sales of $904.1 million, according to a poll by Refinitiv. The company didn’t provide a fresh earnings estimate.

Its shares jumped more than 8% in after-hours trading.

The tween-and-teen apparel retailer said demand for goods at both its namesake…



Source cnbc.com

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