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The Economic Times
The Economic Times
Business

American Eagle shares slump on flat margin outlook, weakness in namesake brand

American Eagle AE Aerie Abercrombie Gap

American Eagle Outfitters' shares tumbled about ​11% on Thursday after ​the apparel retailer forecast flat quarterly gross margins, signaling discounts ​to clear excess inventory and weak demand at its namesake brand could weigh on profit.

The company also kept its annual comparable sales forecast intact on Wednesday despite posting better-than-expected ‌revenue for the ⁠second quarter.

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