American Eagle Outfitters fell after posting worse-than-expected same-store sales for the second quarter, signaling even its investments in denim and lingerie can’t fend off a wider malaise in the struggling apparel sector.
Same-store sales, a crucial metric in retail, rose 2 percent companywide in the retailer’s most recent quarter, missing estimates from analysts, according to Consensus Metrix.
Still, there were some bright spots. Aerie, the company’s booming lingerie and swimwear line, continued to post double-digit same-store sales growth. Comparable sales at the popular unit grew 16 percent, largely offsetting the 1 percent decline in the retailer’s namesake brand.
