Abercrombie & Fitch shares fell 8% in pre-conference trading as the clothing and accessories company announced lower-than-expected fourth-quarter earnings and sales.
The company reported net income of $ 65.5 million or $ 1.12 per share, down from $ 82.4 million or $ 1.27 per share a year ago.
Adjusted earnings per share stood at $ 1.14, compared to estimates for $ 1.27.
Sales rose to $ 1.161 billion from $ 1.122 billion a year ago, compared to estimates for $ 1.183 billion.
The company announced that it does not expect significant stock problems for the rest of the quarter.
For the first quarter, it expects sales to increase by a low single digit percentage. Convergent estimates point to a 2.4% increase to $ 799.9 million.
For the year, Abercrombie’s sales estimates point to a 2% -4% increase, while analysts expect sales of $ 3.824 billion (up 3%).
Source: Capital
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