American Eagle Outfitters’ third-quarter same-store sales were down four percent and its profits fell 46.5 percent as it sought to clear out excess inventory heading into the holiday season. “Our inventory is in good shape, up 8 percent to last year, with progress continuing into the fourth quarter. We are staying disciplined and focused on improving profitability and cash flow, while maintaining a healthy balance sheet,” said Jay Schottenstein, AEO CEO.