It's a rough time for many teen apparel retailers and the holiday season may not bring much relief.

American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a "tough" retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.

But the news was all bad for American Eagle. The retailer's net profit for the third quarter rose to $75.76 million, or 41 cents per share, from $74.11…