Shares of American Eagle Outfitters Inc. rose 6.2 percent in early-morning trading after the company reported second quarter results that bested Wall Street’s estimates, even though profits dropped by nearly half from a year ago.For the three months ended July 29, the teen retailer posted a 48.9 percent drop in net income to $21.2 million, or 12 cents a diluted share, from $41.6 million, or 23 cents, a year ago. Excluding restructuring charges, adjusted earnings per share was 19 cents for the quarter. Net revenues rose 2.7 percent to $844.6 million from $822.6 million. Comparable-store sales rose 2 percent on top of a 3 percent gain last year.Wall Street ‘s consensus estimate was EPS of 16 cents on revenues of $824.0 million.Shares of American Eagle were at $11.91 shortly after the markets opened.Jay Schottenstein, chief executive officer, said the company “achieved sales and earnings above our expectations in a challenging retail environment. Sales trends improved and I’m proud of the continued growth in jeans, bottoms, women’s apparel and Aerie, with encouraging signs in men’s tops beginning to emerge.”The ceo said the company remains focused on delivering product innovation and strengthening its engagement with customers.The company said its capital expenditure for the quarter totaled $46 million. It said it continues to expect fiscal year 2017’s capital expenditures in the range of $160 million to $170 million. Half of that spend is expected to be for store remodeling projects and new store openings, while the balance will be used to support the e-commerce business along with “general corporate maintenance,” the company said.Expecting comps to range flat to up low single digit, the company guided third quarter EPS to the range of 36 cents to 38 cents. It said guidance excludes possible asset impairment and restructuring charges. The year ago EPS was 41 cents.The company opened nine Aerie stores, with seven in new markets. It also opened six American Eagle stores, with two in Mexico and four in the U.S. Further, there were nine international licensed stores opened and three that were closed. For the second half, the company plans to open another five American Eagle stores and five Aerie stores in the U.S., Canada and Mexico, along with 32 international licensed stores. It also said the company is on tract to close a total of 25 to 40 stores this year.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.