Abercrombie beats 4Q profit forecasts

Staff Writer
Columbus CEO

NEW ALBANY, Ohio (AP) — Abercrombie & Fitch Co. (ANF) on Wednesday reported fiscal fourth-quarter earnings of $44.4 million.

On a per-share basis, the New Albany, Ohio-based company said it had net income of 63 cents. Earnings, adjusted for one-time gains and costs, were $1.15 per share.

The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The teen clothing retailer posted revenue of $1.12 billion in the period, falling short of Street forecasts. Twelve analysts surveyed by Zacks expected $1.17 billion.

Abercrombie shares have fallen 16 percent since the beginning of the year. The stock has decreased 39 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANF at http://www.zacks.com/ap/ANF

_____

Keywords: Abercrombie & Fitch, Earnings Report