(Reuters) – American Eagle Outfitters Inc reported an about 3% fall in third-quarter revenue on Tuesday, as store traffic slumped due to the COVID-19 pandemic.
The teen apparel retailer has been struggling with weak demand for its denim apparel from customers staying at home due to the health crisis and a back-to-school season hampered by students turning to online classes.
Revenue at the American Eagle label fell 11% during the quarter ended Oct. 31, while the Aerie brand recorded a revenue jump of 34%.
Total revenue fell to $1.03 billion, from $1.07 billion a year earlier.
Net income attributable to the company fell to $58.1 million, or 32 cents per share, from $80.76 million, or 48 cents per share.
Excluding one-time items, the company earned a profit of 35 cents per share in the quarter. Analysts had projected a profit of 34 cents per share, according to IBES data from Refinitiv.
Shares of the Pittsburgh-based retailer were down about 3% in aftermarket trade.
(Reporting by Aditi Sebastian; Editing by Amy Caren Daniel and Sriraj Kalluvila)
