Retail brand Abercrombie & Fitch Co. (ANF) shares are down 11% on the market despite the company reporting higher-than-expected adjusted earnings in the third quarter.
Net income reported by the company was $47.23 million or $0.77 earnings per share, up from $42.27 million or $0.66 earnings per share in the same quarter last year. Excluding one-time items, the earnings per share were $0.86 per share, compared to $0.76 per share last term. On average 10 analysts polled by Thomson Reuters estimated the earnings to be $0.66 per share.
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