American Eagle Outfitters reported October sales started off well and then slowed significantly the second half of the month, contributing to a 5 percent drop in sales at established stores.

The South Side teen retailer said total sales for the four weeks ended Oct. 31 also dropped 5 percent to $195.1 million from $204.8 million in the same period last year.

Despite being disappointed by those results, a company spokeswoman said in a recorded sales call that American Eagle officials are optimistic about the potential for stronger sales over the next several weeks. She said the retailer has offered fewer promotions this year.

The company will wait to provide earnings guidance for the fourth quarter until after Black Friday, the important day after Thanksgiving that launches the holiday shopping season for many stores and consumers.

American Eagle said sales for the third quarter, which ended Oct. 31, fell 1 percent to $749 million vs. $754 million last year. Sales in stores open at least a year dropped 4 percent in the quarter.

The company said earnings per share for the third quarter will be 20 to 21 cents per share, excluding a 7-cent tax benefit. Analysts polled by Thomson Financial Network had been looking for 22 cents per share.

American Eagle shares were trading at $15.77 by mid-morning, down more than 11 percent.

Looking for more from the Post-Gazette? Join PG+, our members-only web site. You'll get exclusive sports content, opinion, financial information, discounts from retailers and restaurants, and more. Our introduction to PG+ gives you all the details.