NEW YORK (
Ahead of its Dec. 2 third quarter earnings release, the Pittsburgh-based apparel company raised its third quarter earnings guidance to 34 cents per share from 28 cents to 31 cents per share.
"We continue to experience greater full-priced selling and less promotional activity, resulting in profit margin expansion," Jay Schottenstein, interim CEO of American Eagle, said in a statement. "As we look ahead, we are optimistic about the upcoming holiday season and will continue executing customer-focused initiatives while delivering returns to shareholders."
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Additionally, American Eagle announced that it will buy Tailgate Clothing, which is a vintage, sports-inspired clothing brand, for $11 million in cash and stock.
"We are thrilled to...