American Eagle Outfitters net income more than doubled as the company cut costs to offset a sales decline. Net income for the three months ended April 30 rose to $28.3 million from $10.9 million last year. Its results met analyst expectations.
American Eagle Outfitters Inc. officially announced the retirement of its chief executive officer. The chain, which has seen its seen sales falter of late, also posted a 47% rise in profits for the fourth quarter on cost-cutting.