American Eagle boosts forecast after strong lift from Sydney Sweeney ad campaign
American Eagle's stock surged after the company raised its holiday sales forecast, driven by increased traffic from Sydney Sweeney's viral jeans campaign. The stock is up 136% over six months. The company expects holiday quarter sales to grow 8-9%, surpassing analysts' 2.2% estimate. CEO Jay Schottenstein highlighted the positive impact of strategic changes in merchandising, marketing, and operations. Despite controversy over the ad, Schottenstein defended it, noting record customer acquisition and brand awareness. The company also increased its operating income forecast for the fourth quarter.
Fox News·