Abercrombie & Fitch Q3 Adj $1.83 Beats $1.18 Estimate, Sales $1.06B Miss $1.34B Estimate
Portfolio Pulse from Benzinga Newsdesk
Abercrombie & Fitch (NYSE:ANF) exceeded Q3 earnings expectations with $1.83 per share against the $1.18 estimate, a significant increase from $0.01 per share last year. However, sales of $1.06B fell short of the $1.34B estimate, despite being a 20.04% increase from the previous year.
November 21, 2023 | 12:36 pm
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NEUTRAL IMPACT
Abercrombie & Fitch reported a strong earnings beat but missed revenue estimates for Q3, with a significant year-over-year increase in earnings per share.
While the earnings beat is positive, the sales miss could temper investor enthusiasm, leading to a neutral short-term impact. The substantial increase in earnings YOY is a strong positive, but the revenue miss indicates potential challenges in sales growth.
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IMPORTANCE 90
RELEVANCE 100