American Eagle Outfitters Inc. and Talbots Inc. early Tuesday posted third-quarter declines compared with year-ago figures.
Teen apparel retailer American Eagle Outfitters reported a 1.5 percent drop in earnings and Talbots swung to a loss, hurt by acquisition and financing costs.
For the three months ended Nov. 3, American Eagle income fell to $99.4 million, or 45 cents a diluted share, from $100.9 million, or 44 cents in the year-ago period. The company posted higher earnings per share in the most recent quarter because it had fewer shares outstanding.
Sales jumped 6.9 percent to $744.4 million from $696.3 million. Same-store sales increased 2 percent in the quarter.
Talbots said for the three months ended Nov. 3, it posted a loss of $9.4 million, or 18 cents a diluted share, from income of $8.1 million, or 15 cents in the year-ago period. Results include acquisition-related and financing costs of 8 cents a share in connection with its purchase of J. Jill, and about 6 cents related to executive compensation costs and professional consulting fees.
Sales for the quarter dropped 2.2 percent to $556 million from $568.6 million, and total company comparable-store sales declined 7.9 percent. By brand, comps for Talbots fell by 8.2 percent and for J. Jill declined by 6.5 percent.
For complete coverage, see Wednesday’s WWD.