Abercrombie & Fitch Co. ANF, a specialty retailer of premium, high-quality casual apparel, released fourth-quarter fiscal 2015 results, wherein adjusted earnings of $1.08 a share was significantly ahead of the Zacks Consensus Estimate of 96 cents. However, the bottom line fell 6.1% from $1.15 a share earned in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate has witnessed a downside in the last 30 days. In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 87.1%.
Revenues: Abercrombie & Fitch’s net sales dipped 0.6% year over year to $1,112.9 million but beat the Zacks Consensus Estimate of $1,104 million. On constant currency basis, sales rose about 2%. Comparable store sales inched up 1%.
The company expects fiscal 2016 comps growth to range from flat to slightly positive and expects currency headwinds to impact sales by nearly $50 million.
Key Events: Abercrombie & Fitch declared a quarterly dividend of 20 cents per share, payable on Mar 14 to shareholders with record as on Mar 4.
Zacks Rank: Currently, Abercrombie & Fitch carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Abercrombie & Fitch’s shares are up 6.4% during pre-market trading hours following the earnings release. Clearly, a positive sentiment is palpable among investors following the company’s splendid results.
Check back later for our full write up on Abercrombie & Fitch’s earnings report!
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