9月10日，美鹰服饰盘中下跌14.89%，报14.375美元/股，成交额1.91亿美元。
消息面上，公司公布的Q2财报表面亮眼——营收13.8亿美元，同比增长8%，略超预期；调整后EPS为0.79美元，远超市场预期的0.21-0.22美元。然而，盈利大增的核心原因是一笔约1.61亿美元的一次性关税退款净收益，贡献了毛利率扩张中1300个基点的增长。剔除该因素后，运营利润率仅约3.6%，真实盈利能力远逊于表面数据。
更令市场担忧的是，核心品牌American Eagle同店销售同比下滑1%，集团整体6%的同店增长主要依赖子品牌Aerie（+19%）支撑。管理层在电话会上坦言AE品牌预期已从低个位数正增长下调至持平，且需持续打折清库存。此外，UBS将目标价从31美元下调至27美元，BMO首次覆盖仅给予18美元目标价，机构态度整体偏谨慎。
（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）
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