Cart

0

Stocks

“Abercrombie & Fitch surges more than 20% after reporting surprise profit”

“Shares of Abercrombie & Fitch soared more than 20% on Wednesday after the mall retailer beat estimates, raised its guidance and reported a surprise profit. 

Here’s how Abercrombie did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:

  • Earnings per share: 39 cents, adjusted, vs. a loss of 5 cents expected
  • Revenue: $836 million vs. $815 million expected

The company’s reported net income for the three-month period that ended April 29 was $16.57 million, or 32 cents a share, compared with a loss of $16.46 million, or 32 cents a share, a year earlier. Excluding one-time items, Abercrombie reported per-share profit of 39 cents in the quarter.

Sales rose to $836 million from $812.8 million a year earlier. Same-store sales were up 3% in the quarter, versus Street Account estimates of a 1% decline…”

https://www.cnbc.com/2023/05/24/abercrombie-fitch-anf-q1-earnings-report-2023.html

Leave a Reply