NASDAQ:IPX 25 January 2026

July 2, 2026, 1:50 PM EDT. American Eagle Outfitters (AEO) shares have slid 35.1% over the past six months, trailing both the retail group and S&P 500. The company is getting hit by higher operating costs, including an 11% rise in SG&A from more ad spend, and a $20 million impact from tariffs. Management pointed to weak sales in women's bottoms, denim in particular, and said colder weather hit seasonal demand. SG&A is projected to climb again in fiscal Q2, while tariffs will rise to 15%, adding more cost pressure. Executives flagged a volatile environment, with macro uncertainty continuing, and said they're working to strengthen product appeal and execution.