Double-digit percentage gains in both third-quarter income and sales at teen retailer American Eagle Outfitters lifted its shares 7.1 percent Wednesday.
For the three months ended Oct. 27, net income rose 50 percent to $78.6 million, or 39 cents a diluted share, from $52.4 million, or 27 cents, last year. Net sales rose 11.1 percent to $910.4 million from $819.4 million. Comparable-store sales, including AE Direct, gained 10 percent in the quarter, compared with the 7 percent increase last year.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"