Category: Markets / Finance / August 6, 2013 2:54 PM EDT
American Eagle Outfitters (NYSE: AEO) plunged over 17 percent after the bell Monday, as the retailer cut its outlook for the second quarter to 10 cents a share, well below analysts' expectations for 21 cents a share.
The retailer blamed weak sales for the period, just ahead of the back-to-school season. American Eagle is expected to report earnings results on August 28 for the quarter ending July 2013.
As of 2:40 p.m. eastern, shares of American Eagle Outfitters plunged 13.62 percent to $17.25.
Rivals Abercrombie & Fitch Co. and Aeropostale Inc also fell over 5 percent after the news on Tuesday on second quarter growth concerns. Both are expected to issue earnings on August 22.
Shares of Abercrombie & Fitch Co. (NYSE: ANF) fell 4.72 percent to $49.22 in afternoon trade, while Aeropostale Inc (NYSE: ARO) was down 2.14 percent to $14.63 per share.
Also on the earnings calendar Tuesday, retailers Michael Kors Holdings Ltd. (NYSE:KORS) and Fossil Group Inc. (NASDAQ:FOSL) reported better-than-expected quarterly results.