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American Eagle sales dip 1% for June

| Thursday, July 8, 2010

American Eagle Outfitters Inc. said today its same-store sales dropped 1 percent in June compared to a year ago, while total sales for the five weeks ended July 3 grew by 1 percent to $249 million.

"June sales were below expectations" following the Memorial Day period that drove sales early in the month, said Judy Meehan, vice president of investor relations for the South Side-based retailer. Same-store sales gauge stores open at least a year.

The company said it expects second quarter earnings to be 1 to 3 cents a share, considering closing costs and an operating loss for its Martin + Osa chain of stores that amount to about 13 cents a share.

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