Hurt by a slowdown in its slowdown in its online as people shop more at physical stores, American Eagle Outfitters Inc its missed quarterly revenues estimates for Q2FY21. The company’s consolidated revenue from its physical stores increased by 73 per cent from a year earlier in the second quarter ended July 31.
The company's Aerie brand, which sells work-from-home favorites lingerie and lounge wear, posted a 34 per cent rise in revenue to $336 million, while American Eagle label sales jumped 35 per cent to $846 million.
Total net revenue jumped to $1.19 billion from $883.5 million a year earlier, missing analysts' average estimate of $1.23 billion, according to Refinitiv IBES.
Major retailers including Target Corp and Gap Inc have reported a slowdown in digital sales in their latest quarterly reports, although they remain higher compared with pre-pandemic levels.
