Abercrombie & Fitch Q4 Miss Estimates; Guides FY22 Net Sales Growth In Line

(RTTNews) - Specialty retailer Abercrombie & Fitch Co. (ANF) reported Wednesday net income attributable to the company of $65.51 million or $1.12 per share for the fourth quarter, down from $82.39 million or $1.27 per share in the prior-year quarter. Adjusted earnings per share were $1.14 for the quarter.

Net sales for the quarter grew 4 percent to $1.16 billion from $1.12 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.27 per share on revenues of $1.18 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company now projects net sales growth in the low-single-digits for the first quarter from last year's $781 million and 2 to 4 percent for the full-year 2022 from last year's $3.7 billion.

The Street is looking for net sales $799.96 million for the quarter and net sales growth of 2.7 percent to $3.83 billion for the year.