This compares to EPS from continuing operations of $0.41 for the same period last year. The company’s previous EPS guidance was $0.14 to $0.16. The revised outlook reflects slightly better than expected margin results.
Total net revenue for the thirteen weeks ended November 2, 2013 decreased 6% to $857 million from $910 million for the thirteen weeks ended October 27, 2012. Total consolidated comparable sales decreased 5%, including sales from AEO direct, against a 10% comparable sales increase last year. AEO direct sales increased 17% during the period. Third quarter 2013 comparable sales are compared to the 13 weeks ended November 3, 2012.
Robert Hanson, CEO, commented, “Our third quarter results are clearly unsatisfactory. Yet, in an extremely challenging environment, our bottom line results are slightly ahead of our prior expectations and we ended the period with clean inventory. We remain highly focused on strengthening our merchandising, marketing and customer service execution, while maintaining disciplined inventory and expense management.”
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