May 27 (Reuters) – Abercrombie & Fitch beat Wall Street expectations for first-quarter profit on Wednesday, riding strong demand for its apparel despite macroeconomic uncertainty continuing to pressure U.S. discretionary spending. It reported adjusted net income per share of $1.47, above expectations of $1.28. The apparel retailer posted $1.1 billion in net sales. Analysts on […]
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Abercrombie & Fitch beats quarterly profit expectations
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May 27 (Reuters) – Abercrombie & Fitch beat Wall Street expectations for first-quarter profit on Wednesday, riding strong demand for its apparel despite macroeconomic uncertainty continuing to pressure U.S. discretionary spending.
It reported adjusted net income per share of $1.47, above expectations of $1.28.
The apparel retailer posted $1.1 billion in net sales. Analysts on an average estimated sales of $1.12 billion, according to data compiled by LSEG.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Joyjeet Das)