“Abercrombie & Fitch surges more than 20% after reporting surprise profit”
May 24, 2023
“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