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American Eagle Outfitters (NYSE:AEO) reports third quarter EPS of $0.41 on record revenue of $910 million which beat by $0.02 and $37 million respectively. Online sales are up an impressive 27%, while comparable store sales grow 10%. Gross profit was up 21% to $379 million and improved by 350 bps. Outlook for the fourth quarter sees the EPS in the range $0.54-$0.56. For the year, the EPS in the range $1.3-$1.40.
Motor Car Parts of America (NASDAQ:MPAA) reports FQ1 EPS of $0.32, which is off estimates by $0.22, and revenue of $89 million, which surpasses estimates by $2.3 million, and is higher by 26.3% year-on-year. Gross profit as a percentage of sales was 13.6% compared to 10% in the year ago quarter. The company’s under car segment continued to be a drag on profits.
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Struggling Japanese electronics major Sony Corp (NYSE:SNE), which is in the midst of offloading various non-core assets, has received offers from investment banks to help sell its batteries business. The unit clocked up sales of $1.72 billion last year and has 2700 personnel on its rolls. Likely bidders are said to be Taiwanese company Hon Hai Precision Industry and Chinese automaker BYD Co Ltd, which counts legendary investor Warren Buffett has one of its stakeholders.
Amazon Inc (NASDAQ:AMZN) announced its launch of the Amazon App Store in Japan, offering customers in the country a range of quality Android apps as well as features that make app shopping secure and convenient. The launch is said to make Amazon “the most complete end to end platform for developers looking to build, market and monetise their apps and games.”
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