Why Abercrombie & Fitch Stock Just Jumped 19%
Abercrombie Fitch (NYSE: ANF) stock surged 19% through 11:05 a.m. ET after reporting Q1 2024 earnings this morning -- and beating Wall Street analyst targets with a stick.
Expected to earn $1.73 per share on $963 million in sales in the year's first quarter, Abercrombie instead reported a per-share profit of $2.14 and sales of more than $1 billion.
And this good news gets better. A's sales didn't just beat expectations; it reported its best sales quarter ever, with sales up 22% year over year. Hollister brand sales grew 12%, and Abercrombie brands were up 31%. Profits on these sales also surged, with operating margins rising 860 basis points to 12.7%.
Source Fool.com
Abercrombie + Fitch A Stock
€89.40
-4.620%
The stock is one of the favorites of our community with 26 Buy predictions and 2 Sell predictions.
With a target price of 107 € there is a slightly positive potential of 19.69% for Abercrombie + Fitch A compared to the current price of 89.4 €.
