American Eagle Outfitters reports record first quarter sales

(Reuters) – American Eagle Outfitters Inc (AEO.N) reported a record better-than-expected rise in quarterly comparable sales on Thursday helped again by strong demand for its Aerie line of lingerie.The company’s comparable sales rose 9 percent, in the first quarter ended May 5, beating analysts’ average estimate of a 5.8 percent increase, according to Thomson Reuters I/B/E/S.

FILE PHOTO – Jeans are seen for sale in an American Eagle Outfitters retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Mike Segar/File Photo

Net income rose to $39.9 million, or 22 cents per share, in the quarter, from $25.2 million, or 14 cents per share, a year earlier. Net revenue rose 8 percent to $823 million.

Reporting by Melissa Fares in New York

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