American Eagle Pulls 2025 Outlook After Weak First Quarter (1)

American Eagle Outfitters Inc. pulled its guidance for the full year following a first quarter that was marred by discounting and a write-down of inventory, sending the stock down in New York trading.

In a preliminary earnings release, the apparel chain said comparable sales are expected to be down about 3% in the three-month period ended May 3. Revenue is projected to be about $1.1 billion, a decline of roughly 5% from a year earlier.

American Eagle shares slumped 6.2% at 9:35 a.m. in New York. The stock had declined 24% this year through Tuesday’s close.

The apparel chain said ...