American Eagle Stock Jumps After Q1 Results Beat Forecasts

American Eagle Outfitters Inc. shares rose 9% in premarket trading after the teen clothing retailer reported better-than-expected results and an upbeat outlook. First-quarter profit rose to $29.1 million, or 15 cents a share, from $3.87 million, or 2 cents, a year earlier. Sales rose to $699.5 million from $646.1 million. The company was expected to earn 11 cents a share in the most recent quarter on sales of $691.6 million, according to FactSet. American Eagle had previously forecast profit of as much as 12 cents a share. Comparable sales rose 7%, compared to a 10% decline a year earlier. The company forecast second-quarter profit of 11 cents to 14 cents a share. Analysts surveyed by FactSet were looking for second-quarter profit of 10 cents a share.