American Eagle sees dull holiday quarter on higher markdowns

(Reuters) - American Eagle Outfitters Inc forecast holiday-quarter profit and comparable sales below market expectations on Wednesday, as the apparel retailer ramps up promotions to counter sluggish demand for its flagship AE brand. Shares of the Pittsburgh-based company fell about 7%, having lost about 22% so far this year. Stiff competition in the retail space has forced U.S. apparel makers, slower in offering latest fashion, to spend heavily on promotions to compete with fashion-forward..