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Abercrombie & Fitch Q4 Results Beat View - Quick Facts

Abercrombie & Fitch Co. (ANF) reported a 52 percent increase in profit for the fourth quarter from last year, reflecting a double-digit increase in sales and a benefit related to foreign exchange rates. Both revenue and adjusted earnings per share beat analysts' estimates.

Net income attributable to Abercrombie & Fitch Co. was $74.21 million or $1.05 per share, up from $48.79 million or $0.71 per share in the same period last year.

The company noted that year-over-year change in foreign currency exchange rates, net of hedging, was a benefit of about $0.14 per share in the latest quarter.

Excluding certain items, adjusted earnings per share for the quarter were $1.38, compared to $0.75 per share last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 15 percent to $1.19 billion from $1.04 billion last year. Analysts had a consensus revenue estimate of $1.16 billion.

The additional week in fiscal 2017 and changes in foreign currency exchange rates benefited fourth-quarter net sales by about 4 percent and 3 percent, respectively.
Comparable sales for the quarter rose 9 percent.

For fiscal 2018, the company forecast both net sales and comparable sales to increase in low-single digits.

by RTT Staff Writer

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