AEO posts 6% comps drop, adjusts guidance

PITTSBURGH American Eagle Outfitters announced a 3% increase in net sales for the five weeks ended Oct. 4, to $229.2 million from $222.8 million in September 2007. Comparable-store sales decreased 6% for the month, compared to a 2% decrease for the same period last year.

The company expects third-quarter EPS to be in the range of 31 cents to 34 cents, compared to 45 cents last year. The previous earnings guidance was 31 cents to 36 cents per share.