Abercrombie & Fitch Co (NYSE:ANF) shares are trading lower after the company reported second-quarter earnings.
Sales grew 21% Y/Y to $1.134 billion, beating the analyst consensus estimate of $1.101 billion. Comparable sales jumped 18% Y/Y. Adjusted EPS of $2.50 beat the analyst consensus estimate of $2.22.
Americas sales increased 23%, EMEA grew 16% and, APAC sales climbed 3% Y/Y. Abercrombie brand sales rose 26%, while Hollister sales improved 17% Y/Y.
Gross profit margin expanded 240 basis points Y/Y to 64.9% in the quarter. Operating expense, excluding other operating income, net of $561 million for the quarter, with the operating expenses ratio improving to 49.4% from 53.2% last year.
Operating income for the quarter was $176 million versus $90 million a ...
