Why Abercrombie & Fitch Shares Are Surging Today
Portfolio Pulse from Shivani Kumaresan
Abercrombie & Fitch Co (NYSE:ANF) reported Q1 FY23 sales growth of 3% YoY to $835.99 million, beating analyst estimates of $814.53 million. Adjusted EPS of $0.39 also surpassed the consensus of $(0.05). The company raised its FY23 net sales growth guidance from 1%-3% to 2%-4% and operating margin guidance from 4%-5% to 5%-6%.
May 24, 2023 | 12:23 pm
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Abercrombie & Fitch reported better-than-expected Q1 FY23 results, with sales growth of 3% YoY and adjusted EPS of $0.39. The company raised its FY23 guidance, leading to an 18% increase in premarket stock price.
Abercrombie & Fitch's better-than-expected Q1 results and raised FY23 guidance indicate strong performance and positive outlook for the company. This has led to an 18% increase in premarket stock price, suggesting a positive short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100