American Eagle Outfitters reported quarterly earnings on Thursday that missed expectations, reflecting a $75 million write-down in spring and summer merchandise, following the retailer pulling its full-year guidance earlier this month due to macroeconomic uncertainty. “The first quarter was a challenging period for our business,” CEO Jay Schottenstein said in a release. “While we are…
Shoppers cast shadows as they carry their bags along the waterfront in Portland, Maine, U.S, December 26, 2024. Kevin Lamarque | Reuters It’s not just Walmart. The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy…
American Eagle warned investors on Wednesday that consumers are pulling back on spending and it’s seen a “slower start” to the year than it expected. “Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather,” CEO Jay Schottenstein said in a news release. “While we…
