Abercrombie & Fitch Earnings: ANF Stock Heads 2% Lower on Q3 Miss

Abercrombie & Fitch (NYSE:ANF) earnings for the apparel retailer’s third quarter of 2019 have ANF stock down on Tuesday. This is due to its adjusted per-share earnings of 23 cents and revenue of $863.50 million. These are both below Wall Street’s estimates of 24 cents per share and $868.39 million.

Abercrombie & Fitch Earnings: ANF Stock Heads 2% Lower on Q3 Miss

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Now for a more in-depth look at the current Abercrombie & Fitch earnings report.

  • Adjusted EPS is down 30.30% from 33 cents in the third quarter of 2018.
  • Revenue is roughly the same as what was reported during the same time last year.
  • Operating income of $14.50 million is 63.48% worse YoY from $39.70 million.
  • The Abercrombie & Fitch earnings report also includes a net income of $7.57 million.
  • That’s 69.45% worse than the company’s net income of $24.78 million reported in the same period of the year prior.

Fran Horowitz, CEO of Abercrombie & Fitch, has this to say about the most recent ANF stock earnings.

“Continued U.S. momentum was offset by challenges across several of our key international markets as well as a complicated global operating environment, which weighed on overall results. Despite these challenges, we ended the quarter with a balanced inventory position and have seen good response to our new assortments as weather has turned more seasonal, giving us confidence in our product and messaging for the important holiday period.”

The Abercrombie & Fitch earnings report doesn’t include exact numbers for its 2019 guidance. However, we know that Wall Street is estimating adjusted earnings per share of 75 cents on revenue of $3.62 billion for the year.

ANF stock was down 2.48% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/abercrombie-fitch-earnings-drop-anf-stock/.

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