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Nov. 23, 2021, 8:13 a.m. EST

Abercrombie & Fitch beats expectations but stock slides

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By Tonya Garcia

Abercrombie & Fitch Co. /zigman2/quotes/206677024/composite ANF +0.86% reported third-quarter net income totaling $47.2 million, or 77 cents per share, up from $42.3 million, or 66 cents per share, last year. Adjusted EPS of 86 cents was well ahead of the FactSet consensus for 66 cents. Sales of $905.2 million were up from $819.7 million last year and also ahead of the FactSet consensus for $895.0 million. Digital sales rose 8%. Abercrombie's lineup includes the namesake chain and Hollister, which both reported sales rises during the quarter. "We continue to actively manage through ongoing supply chain constraints, including production and delivery delays and elevated costs," said Chief Executive Fran Horowitz, who expressed confidence that new and existing customers would find what they're looking for during the holiday shopping season. Abercrombie & Fitch stock slumped 6.5% in Tuesday premarket trading, but has skyrocketed 131% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.54% has gained 24.7% for the period.

/zigman2/quotes/206677024/composite
US : U.S.: NYSE
$ 36.36
+0.31 +0.86%
Volume: 2.05M
Jan. 27, 2022 4:00p
P/E Ratio
8.32
Dividend Yield
0.00%
Market Cap
$2.04 billion
Rev. per Employee
$108,043
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/zigman2/quotes/210599714/realtime
US : S&P US
4,326.51
-23.42 -0.54%
Volume: 3.04B
Jan. 27, 2022 5:00p
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