Abercrombie & Fitch Earnings: Swings to a Profit and Beat Estimates

S&P 500 (NYSE:SPY) component Abercrombie & Fitch (NYSE:ANF) swung to a profit in the first quarter and beat Wall Street’s expectations in the process. Abercrombie & Fitch Company (A&F) is an American specialty retailer company, which, through its wholly-owned subsidiaries, operates stores and direct sales of casual apparel for men, women and kids.

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Abercrombie & Fitch Earnings Cheat Sheet for the First Quarter

Results: Swung to a profit of $25.1 million (28 cents/diluted share) in the quarter. Abercrombie & Fitch had a net loss of $11.8 million or a loss 13 cents per share in the year earlier quarter.

Revenue: Rose 21.6% to $836.7 million YoY.

Actual vs. Wall St. Expectations: ANF beat the mean analyst estimate of 12 cents/share. Estimates ranged from 2 cents per share to 24 cents per share.

Quoting Management: Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said: “We are pleased with our first quarter results, which exceeded our internal objectives and reflected broad strength by brand, by channel, and by region. These strong results give us a solid start to achieving our goals for the year.”

Key Stats:

The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 18.4%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 27.3% from the year earlier quarter.

Competitors to Watch: Urban Outfitters, Inc. (NASDAQ:URBN), American Eagle Outfitters (NYSE:AEO), The Buckle, Inc. (NYSE:BKE), Aeropostale, Inc. (NYSE:ARO), The Gap Inc. (NYSE:GPS), Pacific Sunwear of California, Inc. (NASDAQ:PSUN), dELiA*s, Inc. (NASDAQ:DLIA), Zumiez Inc. (NASDAQ:ZUMZ), The Wet Seal, Inc. (NASDAQ:WTSLA), and The Walking Co. Hldgs., Inc. (WALK).

Stock Performance: Shares of ANF are up 3.95% from the previous close of $73.17.

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