Abercrombie & Fitch Earnings Beat Expectations

Published by: Mike Goldman on 16th Nov 2010 | View all blogs by Mike Goldman
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Abercrombie & Fitch Earnings Beat Expectations

Abercrombie & Fitch Co. posted third-quarter results on Tuesday, reporting stronger-than-expected profits as the retailer of teen apparel benefited from increasing demand in foreign markets.

Abercrombie posted earnings for the quarter of $50 million, or 56 cents per share, compared with $38.8 million, 44 cents per share, in the same period a year ago.  Analysts, on average, had forecast earnings of $38.8 million, or 44 cents per share, in a recent survey conducted by Thomson Reuters.

The company runs apparel stores that are very popular among children and young adults all over the world, and analysts think that the company's increasing presence in international markets will help offset sluggish US sales.

Shares of Abercormbie & Fitch have gained about 29 percent during the quarter, closing at $45.33 at the end of Monday's session on the New York Stock Exchange.

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