American Eagle Outfitters Inc.’s second-quarter profits doubled but fell short of projections, and an increase in inventories — some of which was tied to an expansion of the retailer’s accessories business — spooked investors and sent the stock down to a two-year low.
Net income rose to $19.7 million, or 10 cents a share, from $9.7 million, or 5 cents, a year earlier. Still, profits fell 1 cent shy of analyst expectations. Sales for the three months ended July 30 rose 3.7 percent to $675.7 million from $651.5 million, and comparable-store sales were flat.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)