American Eagle Outfitters an early holiday-shopping winner

It probably wasn't the Black Friday shopping weekend that most retailers had hoped for -- but an analyst's report saidAmerican Eagle Outfitters had a better-than-average performance.

American Eagle Outfitters (NYSE: AEO) had "very strong traffic and conversion at AEO" on Black Friday, according to a report released Monday by Sterne Ageeanalyst Ike Boruchow and Tom Nikic. It said American Eagle had a 50 percent off storewide deal this year, compared to 40 percent a year ago.

What about the weekend for the entire specialty retail industry.

"This year Black Friday gave us a taste of what to expect for the remainder of the holiday selling season: intense competition, deep discounts, and choppy mall traffic. Earlier store openings drove heavy traffic, which dissipated and then bounced through the day," Boruchow wrote.

Sterne Agee said the stores opening on Thursday brought more customers to the stores on Thanksgiving evening.

Source: bizjournals

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