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American Eagle's comparable sales miss estimates

Nov 30 Teen apparel retailer American Eagle Outfitters Inc reported a smaller-than-expected rise in quarterly comparable sales, citing a tough retail climate, and forecast a fourth-quarter profit well below expectations.

Shares were down 11 percent at $16.83 in premarket trading on Wednesday.

American Eagle forecast fourth-quarter adjusted profit of 37-39 cents per share, well below the average analyst estimate of 45 cents, according to Thomson Reuters I/B/E/S.

The company's comparable sales rose 2 percent in the third quarter ended Oct. 29, missing analysts' average estimate of a 2.9 percent rise, according to research firm Consensus Metrix.

Net revenue rose 2.34 percent to $940.6 million. Analysts on average had expected $940.9 million.

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Martina D'Couto)

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