Retail

American Eagle sees holiday-quarter sales dropping amid weak mall traffic

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A shopper wearing a protective mask walks past a sale sign at an American Eagle Outfitters Inc. clothing store at Westfield San Francisco Centre in San Francisco, California, U.S., on Thursday, June 18, 2020.

Michael Short | Bloomberg | Getty Images

American Eagle, ahead of a virtual meeting with investors, said Thursday it expects fourth-quarter revenue to decrease in the low-single digits, driven by a drop in brick-and-mortar sales due to weak mall traffic during the Covid pandemic.

That comes in lower than analysts’ estimates, which expected a 0.14% dip, according to Refinitiv.

The apparel retailer said it expects momentum to continue online, with digital sales at both of its brands…



Source cnbc.com

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