Teen apparel retailer American Eagle Outfitters (AEO) reported second quarter earnings today that rose to $19.7 million, or $0.10 per share, compared to $9.7 million, or $0.05 per share, last year.
On a continuing operations basis, however, earnings fell to $0.10 per share from $0.13 per share in last year’s second quarter.
Earnings per share missed analyst expectations, although total sales, which rose 4% to $676 million, exceeded analyst estimates.
Same-store sales were flat in the second quarter.
Rival Abercrombie & Fitch (ANF) is trading up 0.25% today, while Aeropostale (ARO) trades up 0.2%.
Also today, CVS Caremark (CVS) said its board has approved a share repurchase program of up to $4 billion.
The new buybacks will be in addition to the $2 billion share repurchase program announced in June 2010, which is expected to be completed this year.
CVS said it intends to repurchase $1 billion under the new authorization by the end of the year.
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