UPDATE 2-American Eagle to shut more stores as sales remain weak

Wed May 21, 2014 1:59pm EDT
 
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* Says to shut additional 150 stores over next 3 years

* Sees breakven/share in current quarter vs est. EPS $0.04

* Expects same-store sales to fall in high single-digit pct range

* First-quarter comparable-store sales down 10 pct

* Shares fall as much as 7 pct (Adds CEO, analysts' comments, updates shares)

By Shailaja Sharma

May 21 (Reuters) - American Eagle Outfitters Inc forecast another quarter of falling comparable-store sales and said it would close 150 more stores in North America as it continues to struggle to attract fickle teen shoppers.

American Eagle's shares fell as much as 7 percent to a more than 30-month low in midday trading.

The company, which targets customers aged between 15 and 25, said it expected comparable sales to decline in high single-digit percentage range in the second quarter.   Continued...