The post-Thanksgiving shopping weekend will be important for American Eagle Outfitters, which this morning reported sales in established stores fell 5 percent in the first three weeks of November.

Meanwhile, the South Side retailer produced profit for the third quarter of $59.2 million, or 28 cents per share, up from $42.6 million, or 21 cents per share, in the same period last year.

Excluding the impact of a tax benefit, the company's earnings would have been 21 cents per share in the three months ended Oct. 31. That matched the average projection from analysts polled by Thomson Financial.

"Although earnings results remain below our standards, American Eagle Outfitters continued to gain ground during the third quarter," said CEO Jim O'Donnell, in a prepared statement. He said he's confident the teen retailer is "poised for a continued recovery in 2010."

Total sales in the quarter fell 1 percent to $749 million vs. $754 million last year. For the quarter, sales in stores open at least a year fell 4 percent.

American Eagle is waiting to provide fourth-quarter earnings guidance until after the upcoming sales weekend, which traditionally includes a lot of holiday shopping by consumers. The company said it will provide guidance next Thursday, Dec. 3, along with sales results for the month of November.

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