Abercrombie & Fitch Outperforms in the Second Quarter
Despite getting buffeted by COVID-19's economic damage along with the rest of the retail sector, apparel company Abercrombie & Fitch (NYSE: ANF) lost less ground during the second quarter than expected, trouncing analyst estimates in both revenue and earnings per share (EPS). While sales were still down by 17% overall, the enterprise managed to generate earnings per share, far outperforming Q2 2019's loss.
Abercrombie & Fitch overshot analyst consensus massively, according to Reuters. Analysts expected an $0.83 loss per share for Q2 2020, but adjusted EPS actually clocked in at a positive $0.23, beating by $1.06. The 13 analysts polled also predicted $658.44 million in net sales for the period. While the actual revenue reported, $698 million, is down 17% year over year, it was still a positive surprise of 6%.
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Source Fool.com
