By and  on March 9, 2011

American Eagle Outfitters Inc.’s stock rose more than 5 percent Wednesday after the teen apparel retailer said fourth-quarter profits rose 46.7 percent and that it was seeking a new chief executive officer.

The company, which has been struggling to stand out on both the price and merchandise fronts in fierce competition with rivals Abercrombie & Fitch Co. and Aéropostale Inc., said ceo James O’Donnell would retire, a move welcomed by a number of analysts. Shares closed at $15.56, up 76 cents, or 5.1 percent.

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