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