Abercrombie & Fitch outperformed expectations in the fiscal first quarter, with a profit of $0.39 per share on $836M in revenue and a net income of $16.57M. This was a turnaround from the previous year's loss of $16.46M. In the quarter, same-store sales rose by 3%, exceeding expectations of a 1% fall. - In its updated estimate for the upcoming fiscal year, Abercrombie & Fitch predicted net sales growth of 2% to 4% and an operating margin of 5% to 6%.
- The company forecasts net sales growth of 4% to 6% and an operating margin of 2% to 3% for the second fiscal quarter.
- Following the encouraging results report, Abercrombie & Fitch's stock rose more than 30%.
|
