WASHINGTON (dpa-AFX) - Abercrombie & Fitch Co. (ANF) said, for fiscal 2025, the company now expects: net income per share in the range of $9.50 to $10.50, revised from prior guidance of $10.40 to $11.40. Net sales growth is projected in the range of 3% to 6%, revised from prior guidance of 3% to 5%.
For the second quarter, the company projects: net income per share in the range of $2.10 to $2.30, and net sales growth in the range of 3% to 5%.
For the first quarter, net income attributable to A&F declined to $80.4 million from $113.8 million, last year. Net income per share was $1.59 compared to net income per share of $2.14, prior year. Analysts on average had expected the company to earn $1.33 per share. Analysts' estimates typically exclude special items. Net sales were $1.1 billion, up 8% as compared to last year, with comparable sales of 4%.
'We delivered record first quarter net sales with 8% growth to last year. This was above our expectations and was supported by broadbased growth across our three regions,' said Fran Horowitz, CEO Abercrombie & Fitch Co.
Shares of Abercrombie & Fitch are up 25% in pre-market trade on Wednesday.
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