UPDATE: Abercrombie & Fitch Posts Upbeat Q3 Profit, Lifts FY Forecast
Abercrombie & Fitch Co (NYSE: ANF) reported a 40% rise in its fiscal third-quarter earnings. It also lifted its fiscal-year earnings forecast.
For the fiscal year, Abercrombie & Fitch now projects earnings of $2.85 to $3 per share, versus its earlier forecast of $2.50 to $2.75 per share.
Abercrombie & Fitch's quarterly profit surged to $71.5 million, or $0.87 per share, from $50.9 million, or $0.57 per share, in the year-ago period.
Its revenue rose 8.7% to $1.17 billion. However, analysts were expecting earnings of $0.59 per share on revenue of $1.11 billion.
Abercrombie & Fitch's same-store sales declined 3%.
Abercrombie & Fitch shares jumped 26.33% to $39.39 in pre-market trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.