American Eagle beats quarterly sales estimates on strong demand for dresses

(Reuters) – American Eagle Outfitters Inc on Tuesday beat Wall Street estimates for quarterly revenue, as a post-pandemic return to work and social events boosted consumer spending on its jeans and dresses despite rising inflation.

The company’s net revenue fell to $1.24 billion in the third quarter from $1.27 billion a year earlier. Analysts had expected revenue of $1.21 billion, according to IBES data from Refinitiv.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli)