Abercrombie & Fitch Q2 Profit Beats; Revenue Misses; Forecast Boosted (ANF)

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Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Wednesday posted mixed second quarter earnings results and lifted its full-year outlook.

The New Albany, OH-based company reported second quarter net income of $15.52 million, or 19 cents per share, compared with $32.03 million, or 35 cents per share, in the year-ago period.

Revenue rose 4% from last year to $951.41 million.

On average, Wall Street analysts expected a smaller profit of 17 cents per share, albeit on much higher revenue of $993.98 million.

On a sour note, ANF said that same-store sales plunged 10% from last year. Same-store sales (also known as comparable sales) are an important metric used to gauge a retailer's performance, since they only take into account stores open at least one year.

Looking ahead, ANF lifted its full-year earnings outlook to a range of $2.50 to $2.75 per share, while analysts are looking for $2.56 per share for the year.

Abercrombie & Fitch shares rose $1.45, or +4.5%, in premarket trading Wednesday.

The Bottom Line
Shares of Abercrombie & Fitch ( ANF ) have a 2.17% dividend yield, based on last night's closing stock price of $32.33. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $35-$37 price levels.

Abercrombie & Fitch Co. ( ANF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: ANF

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