American Eagle July Comps drop 6%

PITTSBURGH American Eagle Outfitters today announced that total sales for the four weeks ended Aug. 4 were $233.9 million, an increase of 19% compared to $197.4 million for the four weeks ended July 29, 2006. Comparable-store sales decreased 6%, compared to a 7% increase for the same period last year.

The company attributed the July comp-store sales performance to a reflected a decline in store traffic largely due to later back-to-school starts across the country, as well as Florida and Texas moving tax free events from July to fiscal August.

Total sales for the second quarter ended Aug. 4 increased 17% to $703.2 million, compared to $602.3 million for the quarter ended July 29, 2006. Comparable-store sales increased 2% for the quarter, compared to the same 13-week period last year.

Total sales for the year-to-date 26-week period ended Aug. 4 increased 17% to $1.316 billion, compared to $1.125 billion for the 26-week period ended July 29, 2006. Comparable-store sales increased 4% for the year-to-date period.

The company is reiterating its second quarter earnings guidance of 35 cents to 36 cents per share, compared to 31 cents per share last year.