Is Abercrombie & Fitch’s Losing Streak Finally Over?
Abercrombie & Fitch's (NYSE: ANF) stock rallied this week after the apparel retailer posted strong fourth-quarter numbers on Wednesday. Its revenue rose 3% annually to $1.18 billion, beating estimates by $10 million. Its comparable-store sales rose 1%, compared to 3% growth a year ago and breaking its two-quarter streak of flat comps growth.
On a non-GAAP basis, its earnings dipped 3% (but rose 3% on a constant currency basis) to $1.31 per share, beating expectations by eight cents. Does that earnings beat indicate that A&F's losing streak -- which caused the stock to plunge nearly 40% over the past 12 months -- is finally over?
Image source: Abercrombie & Fitch.
Source Fool.com
