Royal Bank: Fiscal Q2 Earnings Snapshot
- On Wednesday, Abercrombie reported first-quarter revenue of $1.11 billion, beating Wall Street expectations with earnings per share of $1.47 versus $1.28 expected. Shares jumped about 13% in morning trading.
- Conflict in the Middle East "directly impacted" sales, with the EMEA region declining 10% during the quarter, which represents about 15% of total company sales, the company said.
- CEO Fran Horowitz said the company is "focused on what we can control, including our inventory levels and marketing investments." Abercrombie expects second-quarter earnings per share between $1.80 and $2, trailing the $2.54 estimate.
- Unlike many peers, Abercrombie applied for a tariff refund of around $100 million after the Supreme Court ruled President Donald Trump's reciprocal tariffs illegal, improving the company's financial outlook.
- Finance chief Robert Ball noted that modest growth in average unit retail is maintaining operating margins between 12% and 12.5%, as Abercrombie reaffirmed full-year guidance expecting sales growth.
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Royal Bank: Fiscal Q2 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Royal Bank Of Canada (RY) on Thursday reported fiscal second-quarter net income of $4.02 billion. The bank, based in Toronto, said it had earnings of $2.80 per share. Earnings, adjusted for non-recurring costs, were $2.84 per share. The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.81 per share. The bank posted revenue of $…
Why Abercrombie Stock Rebounded Today
Key PointsAbercrombie & Fitch is on track to achieve its full-year profit forecast.The company is returning $450 million to investors via stock buybacks. 10 stocks we like better than Abercrombie & Fitch › Shares of Abercrombie & Fitch (NYSE: ANF) rose on Wednesday after the apparel seller's earnings topped Wall Street's estimates. Image source: Getty Images. Will AI create the world's first trillionaire? Our team just released a report on the o…
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