financetom
Business
financetom
/
Business
/
American Eagle Sues Amazon for Trademark Infringement: Report
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
American Eagle Sues Amazon for Trademark Infringement: Report
Oct 3, 2024 1:47 AM

American Eagle Outfitters, Inc. ( AEO ) shares traded higher on Thursday. The company reportedly sued Amazon.com, Inc. ( AMZN ) for trademark infringement and filed a complaint in Manhattan federal court.

The company alleges that Amazon ( AMZN ) used its Aerie clothing line branding in search results, misleading consumers to “inferior quality knock-offs,” reported Reuters.

As per the report, the company seeks triple the actual damages, punitive damages, and an injunction to stop further infringements, along with additional remedies.

Notably, as per CNBC, American Eagle clarified that it did not authorize Amazon ( AMZN ) to sell products from its Aerie line, which includes yoga pants, lingerie, loungewear, and other apparel. The company further added that they declined Amazon’s request for the rights to sell Aerie products on its platform.

CNBC further added that the complaint states that, “These ads are intended to (and do) trick customers into thinking that by clicking the provided link, they will be able to ‘Shop Aerie’ or ‘Save on Offline by Aerie’ on the ‘Official Amazon Site.'”

“These statements are patently false because customers cannot shop for Aerie products on Amazon.”

Last month, American Eagle Outfitters ( AEO ) reported second-quarter adjusted EPS of $0.39, beating the analyst consensus of $0.38. Revenues rose 8% Y/Y to $1.29 billion, missing the street view of $1.31 billion.

Price Action: American Eagle shares are up 1.69% at $21.04 at the last check

Read Next:

Disney’s Streaming Surge, Epic Games Deal Among Key Growth Drivers, Says Analyst

Image: Shutterstock

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
TKO Group Reaches New $375 Million Settlement With UFC Fighters in Lawsuit
TKO Group Reaches New $375 Million Settlement With UFC Fighters in Lawsuit
Oct 3, 2024
02:47 PM EDT, 09/26/2024 (MT Newswires) -- TKO Group ( TKO ) said in a filing Thursday it reached a new $375 million settlement on claims asserted in class action lawsuit filed by former UFC fighters. The revised settlement, which comes after a recent court rejection of an earlier $335 million proposed settlement over two separate lawsuits, will be submitted...
American Eagle Sues Amazon for Trademark Infringement: Report
American Eagle Sues Amazon for Trademark Infringement: Report
Oct 3, 2024
American Eagle Outfitters, Inc. ( AEO ) shares traded higher on Thursday. The company reportedly sued Amazon.com, Inc. ( AMZN ) for trademark infringement and filed a complaint in Manhattan federal court. The company alleges that Amazon ( AMZN ) used its Aerie clothing line branding in search results, misleading consumers to “inferior quality knock-offs,” reported Reuters. As per the...
Micron Technology's Bullish AI-Driven Outlook, Strong Fourth-Quarter Financials Quiet Negativity
Micron Technology's Bullish AI-Driven Outlook, Strong Fourth-Quarter Financials Quiet Negativity
Oct 3, 2024
03:27 PM EDT, 09/26/2024 (MT Newswires) -- Micron Technology's ( MU ) bullish outlook for the new fiscal year, combined with its strong fiscal fourth-quarter earnings, upended negative sentiment heading into its late-Wednesday earnings release. Fueled by robust artificial intelligence demand, particularly in the data center space, Micron now sees the market for its high-bandwidth memory, or HBM, products eclipsing...
Nordstrom Downgraded: Analyst Highlights Consumer Pressure And Potential M&A Impact
Nordstrom Downgraded: Analyst Highlights Consumer Pressure And Potential M&A Impact
Oct 3, 2024
KeyBanc Capital Markets analyst Ashley Owens downgraded Nordstrom ( JWN ) from Overweight to Sector Weight. The analyst highlights several encouraging key priorities, including improvements in the Nordstrom ( JWN ) banner, identification of operational efficiencies, and continued in Rack growth. Sell-through during the second quarter’s anniversary sale met expectations, while regular-price sales and increased customer visits reflect solid brand...
Copyright 2023-2026 - www.financetom.com All Rights Reserved