Abercrombie & Fitch: annual targets revised upwards
(CercleFinance.com) - Abercrombie & Fitch Co.
announced on Tuesday that it had raised its annual targets after reporting "record" sales for the quarter just ended.
The US ready-to-wear brand reported sales of $1.2bn for the quarter ended in early November, up 14% y-o-y and the sixth consecutive quarter of double-digit growth.
Its operating profit came to $179m, compared with $138m a year earlier, representing earnings per share (EPS) of $2.50, above the Wall Street consensus of $2.22.
After such a strong performance, Abercrombie is now targeting annual sales growth of between 14% and 15%, compared with 12% to 13% previously, accompanied by an operating margin of around 15%, rather than the 14%-15% previously expected.
Despite this solid publication, the stock lost 1.5% in pre-market trading on Tuesday morning on Wall Street, the victim of some profit-taking after a gain of over 75% this year.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
announced on Tuesday that it had raised its annual targets after reporting "record" sales for the quarter just ended.
The US ready-to-wear brand reported sales of $1.2bn for the quarter ended in early November, up 14% y-o-y and the sixth consecutive quarter of double-digit growth.
Its operating profit came to $179m, compared with $138m a year earlier, representing earnings per share (EPS) of $2.50, above the Wall Street consensus of $2.22.
After such a strong performance, Abercrombie is now targeting annual sales growth of between 14% and 15%, compared with 12% to 13% previously, accompanied by an operating margin of around 15%, rather than the 14%-15% previously expected.
Despite this solid publication, the stock lost 1.5% in pre-market trading on Tuesday morning on Wall Street, the victim of some profit-taking after a gain of over 75% this year.
Copyright (c) 2024 CercleFinance.com. All rights reserved.