Reports Q1 revenue $1.09B, consensus $1.09B. Reports Q1: total comparable sales declined 3%; Aerie comparable sales decreased 4%; American Eagle (AEO) comparable sales declined 2%. “As we noted in our preliminary release, the first quarter was a challenging period for our business. While we are disappointed with the results, we are taking actions to better position the company and drive stronger performance in the upcoming quarters. Our brands remain resilient. The team is executing with urgency as we look to strengthen both the topline and profit flow-through,” commented Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
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