Abercrombie & Fitch (ANF) Stock Pops 11% as Earnings Crush Wall Street Expectations
TLDR
- ANF jumped 11% in premarket trading after Q2 earnings of $4.17 per share crushed the $1.99 Wall Street estimate
- Net sales grew 5% to $1.27 billion, edging past analyst expectations of $1.25 billion
- Comparable sales were flat year-over-year, slightly missing the expected 0.8% increase
- Full-year net income guidance raised to $13.10-$13.60 per share, well above the prior forecast of $10.20-$11.00
- Full-year net sales growth forecast tightened to 5%, up from the previous range of 3%-5%
Abercrombie & Fitch stock rose 11% to $121.36 in premarket trading on Wednesday after the retailer posted a strong fiscal second quarter and lifted its full-year outlook.
The company reported adjusted earnings of $4.17 per share for the quarter ended August 2. That compared to $2.32 a year ago and came in well ahead of the Wall Street consensus of $1.99 per share, according to FactSet.
It is worth noting that quarterly profit included a $1.75 per share benefit from tariff refunds, which helped inflate the bottom-line beat.
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