Abercrombie & Fitch Earnings: ANF Stock Surges 10% on Q4 Beats

Abercrombie & Fitch (NYSE:ANF) earnings for the clothing retailer’s fiscal fourth quarter of 2019 have ANF stock heading higher on Wednesday. This is thanks to its adjusted earnings per share (EPS) of $1.31 beating out Wall Street’s estimate of $1.23. The company’s revenue of $1.18 billion also helps ANF stock by coming in above analysts’ estimates of $1.17 billion.

Abercrombie & Fitch Earnings: ANF Stock Surges 9% on Q4 Beats

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Now, let’s take a more thorough look at the most recent Abercrombie & Fitch earnings report.

  • Adjusted per-share earnings are down 2.96% from $1.35 in the fiscal fourth quarter of 2018.
  • Revenue is sitting 1.7% higher than the $1.16 billion from the same time last year.
  • Operating income of $122.33 million is a 5.7% drop year-over-year from $129.67 million.
  • The Abercrombie & Fitch earnings report also contains a net income of $85.2 million.
  • That’s a 13.4% decrease compared to its net income of $98.36 million from the same period of the year prior.

Fran Horowitz, Chief Executive Officer of Abercrombie & Fitch, said the following about the ANF stock earnings:

“We finished the year on a strong note, with record Black Friday week results contributing to net sales growth and positive comparable sales for the fourth quarter, and for the third consecutive year. Consistent with recent trends, Abercrombie outperformed Hollister and the U.S. outperformed international, which although still lagging registered significant sequential improvement.”

The Abercrombie & Fitch earnings report also includes its outlook for fiscal 2020. The company says that it is expecting some negative effects due to the coronavirus from China. Due to that, it expects sales to be flat to up 2%.

ANF stock was up 9.97% as of Wednesday 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/2020/03/abercrombie-fitch-earnings-send-anf-stock-soaring/.

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