Abercrombie shares soar 18% on Hollister growth, strong earnings beat [MSNBC.com]
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Source: MSNBC.com
Shares ofAbercrombie & FitchAbercrombie, which runs its namesake brand and Hollister, is expecting fourth-quarter sales to climb between 4% and 6%, which is largely below Wall Street expectations of 5.6% growth, according to LSEG. It anticipates earnings per share will be between $3.40 and $3.70, roughly in line with expectations of $3.55 per share.Abercrombie beat Wall Street's expectations on the top and bottom lines in the fiscal third quarter. Here's how the apparel retailer did in the period ended Nov. 1 compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the quarter was $113 million, or $2.36 per share, compared with $131.98 million, or $2.50 per share, a year earlier.Sales rose to $1.29 billion, up about 7% from $1.21 billion a year earlier.During the quarter, sales at Abercrombie brand fell 2% to $617.35 million, well below the $631.8 million analysts were expecting, according to StreetAccount. Comparable
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