Abercrombie Tightens Its Belt
With expenses under control, the company's stock looks good right now.
Teen fashion clothier Abercrombie & Fitch (ANF) has a hard road ahead as it attempts to regain its status as a stock market darling. Although up about 140% in the past 10 weeks, the shares are still more than 50% off their 52-week high. With management doing a great job of keeping expenses under control, this may be a good time for investors to jump in.
After the close Tuesday, Abercrombie announced that sales and earnings for the quarter ended July 29 grew 16% and 12%, respectively. Earnings per share came in at $0.21, which was $0.03 ahead of analyst estimates and 24% above the year-ago quarter's $0.17.
Mark Sellers does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.