Abercrombie beats 4Q profit forecasts
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