Shares of American Eagle Outfitters (NYSE: AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.
Many retailers are posting strong quarterly financials as they go up against comparatively weak comparable sales from the year-ago period, which was partially marred by the coronavirus pandemic outbreak. Both Abercrombie & Fitch and Urban Outfitters just handily beat estimates.
Investors might view American Eagle as prepared to beat analyst expectations on the strength of its Aerie loungewear brand, which has been a strong performer throughout. Especially as working from home became an imperative for many -- and still is -- comfortable clothes that met various fashion needs became de rigueur for consumers.
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Why American Eagle Outfitters Is Jumping 5.5% Today