Schaeffer's Street Stories: Abercrombie & Fitch Co. Skyrockets on Strong Earnings

Before the open this morning, earnings rolled in from trendy retailer Abercrombie & Fitch (NYSE: ANF), surpassing the consensus estimate. For the fourth quarter, the company posted a profit of $68.4 million, or 78 cents per share, compared to its year-ago profit of $216.8 million, or $2.40 per share. Excluding impairment charges and costs tied to a new employment agreement with its CEO, the retailer boasted a profit of $1.10 per share, beating the Street estimate for a profit of $1.01.

Sales fell 19% to $998 million, said the company, whose chains include Abercrombie & Fitch, Hollister, Ruehl, Gilly Hicks and children's brand abercrombie.

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Contacts:

Schaeffer's Investment Research
Jocelynn Drake, 513-589-3800
(jdrake@sir-inc.com)
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