American Eagle profit up
New York -- American Eagle Outfitters earned a better-than-expected $39.7 million for the quarter ended April 28, compared with $28.3 million in the same period last year.
The company had said earlier first-quarter sales rose 18% to $719 million. Same-store sales were up 17%.
Last week, American Eagle said its would exit its underperforming children’s business, 77kids, which includes 22 stores and the online business. The company is currently exploring options for the business, which include a full or partial disposition of assets to a third party.