Reuters: Regulatory News: UPDATE 1-American Eagle sees $35-$50 mln loss from kids brand exit

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UPDATE 1-American Eagle sees $35-$50 mln loss from kids brand exit Jun 29th 2012, 21:16 June 29 | Fri Jun 29, 2012 5:16pm EDT June 29 (Reuters) - American Eagle Outfitters Inc said it expects to incur an after-tax loss of $35 million to $50 million related to the disposal of its children's brand, 77kids. The apparel retailer had said in May it was exploring options, including an effort to sell the money-losing chain, which includes 22 stores and an online business. The loss would include $25 million to $38 million in charges related to the closing and $10 million to $12 million in operational costs during the exit period, the company said in an SEC filing. The company will take the losses primarily in the second and third quarters.

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