American Eagle, Urban Outfitters Soar in 3Q

Warrendale, Pa., American Eagle Outfitters saw its earnings rise nearly sixfold to $58 million in the third quarter, from $10.1 million in the year-ago period. Contributing to the improvement were a 35% increase in sales to $503.4 million and a 24.9% gain in same-store sales. Also, the retailer’s results from the third quarter of last year included an extraordinary $8 million goodwill impairment charge from its acquisition of the Bluenotes/Thriftys chain.

In other earnings news, Urban Outfitters’ third-quarter net income grew 84.4% to $26 million, helped by a 52% gain in sales to $216.4 million and a same-store sales improvement of 18%.