American Eagle Outfitters profit slumps 86 pct on weak demand

Teen apparel retailer American Eagle Outfitters Inc's quarterly profit slumped 86 percent as it struggles to attract shoppers amid intense competition and weak demand.

The company's net income fell to $3.87 million, or 2 cents per share, in the first quarter ended May 3 from $27.98 million, or 14 cents per share, a year earlier.

Total revenue fell 4.9 percent to $646.1 million.