American Eagle's Stock Rallies After Profit And Sales Beat Expectations

American Eagle Outfitters Inc. reported Wednesday fiscal second-quarter profit and sales that beat estimates and drove the stock up 1.5% in premarket trading. Earnings for the period ending Aug. 1 rose to $33.3 million, or 17 cents a share, from $5.8 million, or 3 cents a share, for the same period last year. The FactSet consensus was for earnings per share of 14 cents. Total net revenue was up 12% to $797 million, above the FactSet consensus of $769 million. The apparel retailer said it expects third-quarter EPS between 28 cents and 31 cents, compared with the FactSet consensus of 28 cents.