American Eagle Posts Smaller-Than-Expected Loss As Loungewear Demand Surges

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The company debuted a new Aerie activewear line in July featuring soft athletic apparel, helping online sales more than double in the second quarter at the brand.

American Eagle Outfitters Inc reported a smaller-than-expected quarterly loss, as people working from home shopped online for comfortable athleisure and lounge apparel from its Aerie label.

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The company debuted a new Aerie activewear line in July featuring soft athletic apparel, helping online sales more than double in the second quarter at the brand. Total revenue fell 15% to US$ 883.5 million in the three months ended August 1, but beat expectations of US$ 847.8 million.

Net loss attributable to the company was US$ 13.8 million, or 8 cents per share, compared with a profit of US$ 64.98 million, or 38 cents per share, a year earlier. Excluding one-time items, the company reported a loss of 3 cents per share, smaller than analysts’ average estimate of a loss of 16 cents, according to IBES data from Refinitiv.

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