Abercrombie & Fitch Stock Rises Ahead Of Q3 Earnings: Retail’s Bullish
By Stocktwits Inc | First Published Nov 26, 2024, 2:41 AM ISTWall Street analysts expect Abercrombie to announce earnings of $2.39 per share on revenues of $1.19 billion.
Shares of Abercrombie & Fitch Co ($ANF) were up more than 3% ahead of the company’s third-quarter earnings, lifting retail sentiment.
Wall Street analysts expect Abercrombie to announce earnings of $2.39 per share on revenues of $1.19 billion. The company is set to announce results after the market closes on Tuesday.
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For its second quarter, Abercrombie's EPS stood at $2.50 on revenues of $1.13 billion, beating Wall Street estimates. The sales growth was driven by broad-based strength across regions, brands, and genders.
The company also raised its full-year sales growth and profitability outlook, expecting 12-13% sales growth and 14%-15% operating margins, according to Finchat.
“Our team continued to execute at a very high level in the second quarter, resulting in better than expected sales growth and profitability,” Fran Horowitz, the CEO of Abercrombie & Fitch, said at the time. “The strength of our brand portfolio and improvements we've made in global capabilities resulted in broad-based growth across regions, brands and channels.”
Retail sentiment on the stock improved to ‘bullish’ (55/100) from ‘neutral’ (45/100) a week ago. Message volumes improved to ‘extremely high’ (84/100) from ‘low’ (42/100).
Some Stockwits users are bullish, with one user suggesting the stock price was undervalued.
ANF stock is up 71.3 % year-to-date.
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