American Eagle beats quarterly revenue estimates

(Reuters) – American Eagle Outfitters Inc beat Wall Street estimates for second-quarter revenue on Wednesday, as people stuck at home due to the COVID-19 pandemic shopped online for athleisure and lounge apparel from the retailer’s Aerie label.

Total revenue fell to $883.5 million in the three months ended Aug. 1, from $1.04 billion a year earlier, but beat expectations of $847.8 million.

Net loss attributable to the company was $13.8 million, or 8 cents per share, compared with a profit of $64.98 million, or 38 cents per share, a year earlier.

The company recorded about $14 million in impairment, restructuring and COVID-19 related charges in the latest quarter.

(Reporting by Aditi Sebastian in Bengaluru; Editing by Sriraj Kalluvila)