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American Eagle Outfitters beats revenue estimates on steady demand
Even as a threat of recession looms over the United States, demand for sportswear, dresses and cargo pants have remained steady, benefiting apparel makers like American Eagle that have offered higher discounts to shoppers in order to get rid of excess stock. In January, the company said that its fourth-quarter sales and profit margins were tracking at the high end of its forecasts, benefiting from its decision to right-size inventories and a better-than-expected performance at its American Eagle label. The company’s net revenue stood at $1.5 billion in the fourth quarter ended Jan. 28, while analysts on average had expected revenue of $1.48 billion.