Abercrombie & Fitch earnings for the fourth quarter of 2018 have ANF stock heading higher on Wednesday.
Abercrombie & Fitch (NYSE:ANF) reported earnings per share of $1.35 for the fourth quarter of the year. This is down from the company’s earnings per share of $1.38 reported in the same period of the year prior. However, it was still good news for ANF stock be coming in above Wall Street’s earnings per share estimate of $1.15 for the quarter.
Net income reported in the Abercrombie & Fitch earnings release for the fourth quarter of 2018 was $98.36 million. This is an increase over the company’s net income of $75.53 million reported in the fourth quarter of 2017.
The Abercrombie & Fitch earnings report for the fourth quarter of the year also has operating income coming in at $129.67 million. The retailer of clothing and accessories reported operating income of $140.34 million during the same time last year.
Revenue in the most recent Abercrombie & Fitch earnings report comes in at $1.16 billion. This is a drop from the company’s revenue of $1.19 billion from the fourth quarter of the previous year. Despite this decrease, it was still a boon to ANF stock by beating out analysts’ revenue estimate of $1.13 billion for the period.
There’s also a positive outlook for the full year of 2019 in the Abercrombie & Fitch earnings report for the fourth quarter of 2018. The company says that it is expecting revenue for the year to be up 2% to 4% from 2018 revenue. This will have it reporting revenue above Wall Street’s estimate of $3.61 billion for the year.
ANF stock was up 22% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.