American Eagle Outfitters reported softer-than-expected sales growth in its highflying Aerie brand, pushing down the apparel and accessories retailer’s stock price. Across all its brands, American Eagle’s comparable sales rose 9%, its strongest pace since 2015. The latest quarter was the company’s 14th consecutive period of same-store sales growth, Chief Executive Jay Schottenstein said in prepared remarks. It also expects same-store sales to increase in the high-single digits. American Eagle shares had gained 33% so far this year.

Source: Wall Street Journal August 29, 2018 19:18 UTC