WASHINGTON (dpa-AFX) - Teen-apparel retailer American Eagle Outfitters (AEO) posted higher first-quarter net profit of $39.7 million or $0.20 per share, versus $28.32 million or $0.14 per share last year. Excluding the operating results for 77kids, adjusted earnings were $0.22 per share, compared with year-ago quarter's $0.16 per share. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $0.20 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly net sales were $719.09 million, a 18% growth from $610 million in the comparable period, whereas 22 analysts estimated revenues of $718.97 million for the quarter. Comparable-store sales, including AE Direct, rose 17%, compared with a 7% decline a year before.
For the second quarter the company sees adjusted earnings of $0.13 - $0.15 per share, assuming mid single digit comparable store sale growth. Analysts project earnings of $0.12 per share for the second quarter.
Assuming low to mid-single digit comparable store sales growth for the year, the company revised up its annual adjusted earnings per share outlook to $1.16 - $1.22 from its earlier guidance of $1.06 - $1.12. Twenty-five analysts anticipate earnings of $1.18 per share for fiscal 2012.
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