00:00It's Benzinga, bringing Wall Street to Main Street.
00:02American Eagle Outfitters beat second quarter estimates Wednesday,
00:06helped by a large tariff refund, according to Benzinga.
00:10The retailer reported earnings of 79 cents per share,
00:13topping the 21-cent consensus estimate,
00:16while revenue of $1.38 billion edged past expectations of $1.37 billion.
00:23The company received $196 million in tariff refunds,
00:27contributing $161 million to operating income.
00:32Total comparable sales rose 6%,
00:34while airy and offline revenue increased 25%.
00:38Consolidated inventory at cost rose 14%, with units up 9%.
00:43American Eagle expects comparable sales to grow by mid-single digits
00:46in the third quarter and for the full fiscal year.
00:49Shares fell 11.78% to $1.14.98 in Wednesday extended trading,
00:55according to data from Benzinga Pro.
00:58For all things money, visit Benzinga.com.
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