American Eagle Outfitters on Tuesday raised its annual revenue forecast, in a sign that demand for its apparel and accessories remained steady ahead of the crucial holiday season.
The company now expects annual revenue to be up mid single digits, compared with its prior forecast of a rise in low single digits.
Analysts on average had expected revenue to grow 2.61 percent, according to LSEG data.
By Juby Babu
American Eagle Sees Second-Quarter Revenue Above Previous Forecast
The company had in May cut its full-year revenue forecast as demand eased for non-essentials, including apparel, due to still-high inflation.