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Abercrombie & Fitch Beats Expectations; Foot Locker Posts Mixed Results, Outlook Falls Short

  • August 23rd, 2023
  • 249 views

Abercrombie & Fitch Co. (NYSE: ANF), a well-known apparel retailer, reported second-quarter fiscal 2023 adjusted earnings of $1.10 per share, surpassing the consensus EPS estimate of $0.17. The company's quarterly sales reached $935.30 million, exceeding analysts' projected revenue of $842.38 million.

Looking ahead, Abercrombie expects net sales growth for the full-year fiscal 2023 to be around 10%, a notable increase from the 2% to 4% growth previously projected.

$ANF was trading at $47.50 in pre-market, reflecting an increase of $6.33 (+15.38%).

Foot Locker, Inc. (NYSE: FL), a major player in the retail and athletic footwear sector, reported second quarter 2023 earnings of $0.04 per share, meeting the consensus EPS estimate of $0.04. The company's quarterly revenues amounted to $1.86 billion, slightly below analysts' projected revenue of $1.88 billion.

Foot Locker is revising its full-year 2023 EPS outlook, lowering it to a range of $1.30 to $1.50 from the previous range of $2.00 to $2.25. This adjustment contrasts with the consensus estimate of $2.01 for the period.

In pre-market, $FL was trading at $15.61, down $7.59 (-32.72%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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