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NASDAQ Stocks In The News.(B)
Byline: Monika Tjia
After sliding 80% from October 1999 to June 2000, American Eagle Outfitters made its way back up. On Feb. 15, the stock hit a newhigh of 40.04. Since then, it has formed a 10-week base and sits 2% off its high.
The Warrendale, Pa.-based retailer operates more than 550 mall-based stores that offer apparel and accessories for young men and women. The firm recently announced plans to open 46 stores in Canada. The first store is slated to open this month.
After earnings fell 83% in the fiscal 2001 second quarter, profit growth hitdouble-digit figures in the following two quarters. Fiscal 2001 profit rose 5%to $1.30 a share. But analysts expect fiscal 2002 earnings will increase 27% to $1.65 a share, says First Call.
Sales growth has picked up in the past two quarters, from 17% to 27% ...
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