Abercrombie & Fitch Co. Reports First Quarter Results
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Abercrombie & Fitch (ANF) Tops Q1 EPS by $1.05, Revenues Beat
May 26, 2021 7:32 AM EDTAbercrombie & Fitch (NYSE: ANF) reported Q1 EPS of $0.67, $1.05 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $781.41 million versus the consensus estimate of $675.62 million.
Net sales of $781 million, up 61% as compared to last year and up 6% as compared to pre-COVID 2019 first quarter net sales.Digital net sales increased 45% to $403 million reflecting robust growth in every month of the quarter.Gross profit rate improved 900 basis points to 63.4% driven by higher average unit retail on lower promotions.Operating expense, excluding other operating... More