The retailer, which withdrew its annual forecast in April, has experienced a drop in demand for its denims and well known Aerie manufacturer apparel, which include things like intimates and athleisure.
The Aerie manufacturer recorded a revenue drop of two%, when compared with a 28% increase a 12 months ago. Earnings at the American Eagle label fell forty five% for the duration of the quarter.
The enterprise also suspended its next-quarter dividend and does not anticipate declaring a dividend for the relaxation of this 12 months to protect liquidity.
American Eagle also stated its internet loss stood at $257.two million, or $one.fifty four per share, when compared with a profit of $forty.eight million, or 23 cents per share, a 12