American Eagle Names CEO As Earnings Skyrocket

American Eagle Sales are up and CEO is named

American Eagle Outfitters has named Jay L. Schottenstein chief executive, a post he has held on an interim basis since January 2014.

The permanent placement of Schottenstein comes at a time when the company has made a “swift recovery.”

Revenue at the retailer rose by 8% to $919 million for the quarter ended October 31.

American Eagle said the “holiday season is off to a solid start,” and issued fourth-quarter earnings guidance in line with analysts’ estimates.

American Eagle announced on November 3 that same-store sales for the quarter rose 9% while raising its forecast for earnings excluding items to 34 cents a share.

On December 2 the company reported earnings excluding items of 35 cents a share.

Shares of American Eagle are up 13.5% over the past year and rose 2.8% to $16.25 in after-hours trading on Wednesday.

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Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.