American Eagle Outfitters (AEO) posted a larger first-quarter loss than expected, and expects sales to decline again in the current quarter.

After the bell Thursday, the apparel seller reported revenue that fall 5% year-over-year to $1.09 billion, in line with Visible Alpha estimates and its preliminary results 澳洲幸运5官方开奖结果体彩网:released earlier this month. Th🍌e company lost an adjusted $0.29 per share,❀ more than analysts had forecast.

Total comp🧸arable sales declined by 3%, larger than the 2.13%ꦬ drop analysts had projected, with comparable sales falling 2% at American Eagle and 4% at Aerie.

CEO Calls Q1 'Challenging Period'

"As we noted in our preliminary release, the first quarter was a challenging period for our business," CEO Jay Schottenstein said. "While we are disappointed with the results, we are taking actions to better position the company and drive stronger performance in the upcoming quarters."

澳洲幸运5官方开奖结果体彩网:Earlier this month, American Eagle pulled its full-year outlook as the retailer 澳洲幸运5官方开奖结果体彩网:wrote down some of its spring and summer inventory as it had more promotional events than expected in the quarter. The company said it was reviewing its plans amid macro uncertainty and t🐼he disappointing first quarter.

For the second quarter, American Eagle expects revenue to decline 5% with comparable sales falling 3%, in line with analysts' estimates.

After opening the session sharply lower, American Eagle shares turned around and were up 0.5% i💞n recent trading. They have lost about a third of their value thi☂s year.

UPDATE—This article has been updated with the latest share price information.