More from Dividend.com
Referenced Stocks

Abercrombie’s Q3 Earnings Miss as Margins Fall; Shares Tumble (ANF)

By Dividend.com,  November 16, 2011, 08:38:50 AM EDT

Teen clothing retailer Abercrombie & Fitch Co. ( ANF ) on Wednesday posted lower-than-expected third quarter earnings, sending its shares sharply lower in premarket trading.

The New Albany, OH-based company reported third quarter net income of $50.9 million, or 57 cents per share, compared with $50 million, or 56 cents per share, in the year-ago period.

On average, Wall Street analysts expected a much higher profit of 71 cents per share.

Abercrombie noted that higher costs cut into its margins during the latest quarter. Gross margin fell to 60.1% from 63.7% last year.

Earlier in November, the company pre-released quarterly sales results of $1.08 billion, a 21% gain from the year-ago period.

Abercrombie shares plunged $5.80, or -10.4%, in premarket trading Wednesday.

The Bottom Line
Shares of Abercrombie & Fitch ( ANF ) have a 1.26% dividend yield, based on last night's closing stock price of $55.70. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $60-$64 price levels.

Abercrombie & Fitch Co. ( ANF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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.


This article appears in: Investing, Stocks

Referenced Stocks: ANF



Latest News Video

Kim Coles Is 'Supernatural'
Kim Coles Is 'Supernatural'         
Two San Diego Sailors Save Lives In Oklahoma
Two San Diego Sailors Save Lives In...
Juicing: Just Another Diet Fad?
Juicing: Just Another Diet Fad?     
Jodi Arias and the Hung Jury: Now What?
Jodi Arias and the Hung Jury: Now W...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.185 0.03  0.19%
FB $ 24.355 0.71  2.81%
SIRI $ 3.5425 0.00  0.07%
INTC $ 23.72 0.33  1.37%
HPQ $ 24.33 0.53  2.13%
MSFT $ 34.205 0.06  0.16%
PFE $ 28.97 0.14  0.48%
P $ 17.21 0.05  0.29%