Filed under: Earnings reports, Forecasts, Good news, Management, Consumer experience, Competitive strategy, Marketing and advertising, Abercrombie and Fitch (ANF)

Fears over further economic slowdown are dragging most stocks down as market trading is blood red again after a Labor Department report showed a rise of 1.7% in U.S. import prices in January. But not all the companies are pulled down by investors’ economic concerns. In fact, shares of teen retailer Abercrombie & Fitch Co. (NYSE: ANF) have gained a little over 0.5% in early morning trading, after the company posted a rise of 9% for its fourth-quarter profit.

For the quarter, Abercrombie & Fitch reported that its profit climbed to $216.8 million, boosted by strong sales from its Hollister Co. chain. Lower theft rate and higher profit margins also offset deeper discounts and the company posted earnings of $2.40 per share. Analysts were expecting the retailer to show earnings of $2.36 per share in the quarter.

Abercrombie & Fitch also announced an 8% growth in revenues, to $1.23 billion, up from $1.14 billion a year earlier when the company benefited from an extra week. For the quarterly same-store sales though, the retailer posted a decline of 1%.

Continue reading Abercrombie & Fitch (ANF) fourth-quarter profit rises on higher sales

Permalink | Email this | Comments

Share This

This entry was posted on Friday, February 15th, 2008 at 2:47 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.