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Abercrombie & Fitch shares tick higher after Q4 earnings beat market expectations

Abercrombie & Fitch is now guiding fiscal 2018 same-store sales and sales growth in the low-single digits

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In pre-market trade, its shares were up 4.22% at US$22.25.

Abercrombie & Fitch Co (NYSE:ANF) shares were on the rise in pre-market trade after it reported market-beating fourth quarter results.

The retailer said in the quarter, net income came in at US$74.2mln or US$1.05 per share, up from the US$48.8mln or 71 US cents per share, recorded in the same period last year.

READ: Abercrombie & Fitch raises forecasts as revival continues, chairman Maritnez to step down

Adjusted EPS stood at US$1.38, soundly beating market consensus of US$1.10.

The retailer clocked sales of US$1.19bn in the fourth quarter, up from US$1.04bn the year before, and well ahead of the US$1.16bn the market had been expecting.

Same-store sales grew 9%, with Hollister up 11% and its namesake brand up 5% in the quarter. The market had been expecting a 7.7% growth.

Abercrombie & Fitch is now guiding fiscal 2018 same-store sales and sales growth in the low-single digits.

The market is looking at same-store sales growth of 1.8% and sales of US$4.46bn, up from US$3.49bn this year.

In pre-market trade, its shares were up 4.22% at US$22.25.

Quick facts: Abercrombie & Fitch

Price: 16.62 USD

NYSE:ANF
Market: NYSE
Market Cap: $1.04 billion
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