American Eagle Outfitters Shares Tank After Disappointing Earnings and Signet Jewelers Shares Jump After Earnings Beat
American Eagle Outfitters
On Thursday, shares of American Eagle Outfitters tanked, closing down 10.15%.
Shares of the American apparel company tanked after the company reported disappointing Q2 earnings.
The company reported earnings of $0.60 per share vs. $0.53 as expected by analysts. Revenue increased 35% year over year to $1.19 billion vs. $1.22 billion as expected by analysts. Store revenue increased 73% year over year, and digital revenue declined 5%.
For fiscal 2021, analysts expect American Eagle will generate earnings per share of $2.17.
Shares of American Eagle have risen nearly 35% this year.
On Thursday, shares of Signet Jewelers jumped, closing up 5.70%.
Shares of the world’s largest retailer of diamond jewelry rose after the company reported a Q2 earnings beat.
The company reported earnings of $3.57 per share vs. $1.62 per share as expected by analysts. Revenue more than doubled to $1.79 billion from $888 million the previous year, beating analysts’ expectations of $1.63 billion.
Signet Jewelers said it now expects to generate $6.80 billion to $6.95 billion in revenue in fiscal 2022, which is much higher than the consensus analyst forecast of $6.71 billion.
Shares of Signet Jewelers have skyrocketed 212% this year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.