Margin meltdown at American Eagle Outfitters

American Eagle Outfitters (AEO) reports comparable sales fell 7% Y/Y in Q4.

Gross profit rate was down 930 bps to 31.9% as promotions were rampant during the period.

The company warns Q1 has gotten off to a rough start due to weather. A high single-digit decline in comp sales is tipped off and the quarter is forecast to be a break-even period vs. expectations for EPS of $0.13.

AEO -7.5% premarket

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