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American Eagle disappoints in Q3, names merchandising exec
Pittsburgh – American Eagle reported disappointing results for the third quarter of fiscal 2013. Net income plummeted 68% to $24.9 million from $78.6 million, missing Wall Street projections.
Total net revenue of $857 million decreased 6% compared to $910 million last year. Same-store sales fell 5%.
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Jos. A. Bank boosts sales in Q3
Jos. A. Bank slightly increased its net income to $13.6 million in the third quarter of fiscal 2013 from $13.3 million in the same period a year earlier. The retailer also saw its net sales grow about 6% to $247.5 million, from $232.8 million.
Same-store sales declined 0.1%, although direct marketing sales increased 23.5% and combined same-store and online sales increased 2.4%. Jos. A. Bank incurred $1.2 million of legal and professional expenses in connection with the company's bid to acquire The Men's Wearhouse.