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American Eagle Q4 falls 89% on lower sales, charges
Pittsburgh -- American Eagle Outfitters Inc.'s fourth-quarter profit plunged 89% on lower sales and one-time charges related to employee severance costs, the discontinuation of a product line and other items. The company also forecast first-quarter results that were below analysts' estimates.
The teen apparel retailer posted net income of $10.5 million for the quarter ended Feb.1, down from $94.8 million in the year-ago period.
Sales were $1 billion in the quarter, down from $1.1 billion last year. Same-store sales fell 7%.
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Lane Bryant to Pembroke Gardens in Pembroke Pines, Fla.
Columbus, Ohio — Lane Bryant has opened a new store at The Shops at Pembroke Gardens, a lifestyle center in Pembroke Pines, Fla.
The grand opening celebration will take place March 7 – 9. Lane Bryant, a wholly owned subsidiary of Ascena Retail Group, owns and operates 805 stores nationwide.