American Eagle Outfitters Reported Flat Same-Store Sales In July, Lowered Q2 Guidance

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American Eagle Outfitters (NYSE:AEO) reported that its same-store sales for July were flat, vs. analysts' estimates for a drop of 0.2% during the month, Total sales for the four weeks ended July 31 rose 2% to $219 million. The retailer lowered its Q2 earnings outlook to $0.12 to $0.13 per share, down from $0.12 to $0.16 per share, vs. consensus estimates of $0.13 per share. American Eagle Outfitters also said that during July the company repurchased 3.3 million shares. SmarTrend alerted subscribers to take profits in American Eagle Outfitters on April 28, 2010 at $17.26, since then the stock fell 26.8%. We are now watching for any positive developments that could result in a new uptrend signal.