By and  on August 21, 2013

American Eagle Outfitters led retail stocks lower today, falling 9.9 percent to $14.76, after the company put forward weak third-quarter guidance, fueling investor worries about the second half.

“We faced a highly promotional and competitive retail landscape and a decline in traffic, which have continued into the third quarter,” said Robert Hanson, chief executive officer of the firm. American Eagle’s second-quarter profits rose just 3 percent while comparable-store sales fell 7 percent.

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