Abercrombie & Fitch shares rose 6.8% in Wednesday premarket trading after the retailer reported fourth-quarter earnings and sales that beat expectations. Net income for the quarter was $74.2 million, or $1.05 per share, up from $48.8 million, or 71 cents per share, for the same period last year. Adjusted EPS was $1.38, beating the $1.10 FactSet consensus. Sales were $1.19 billion, up from $1.04 billion last year and ahead of the $1.16 billion FactSet consensus. Same-store sales grew 9%, with Hollister up 11% and the namesake brand up 5% for the quarter. The FactSet consensus was for 7.7% growth. Abercrombie & Fitch forecasts fiscal 2018 same-store sales and sales growth in the low-single digits. The FactSet consensus is for same-store sales growth of 1.8% and sales of $4.46 billion, up from $3.49 billion this year. Abercrombie & Fitch shares are up 82.2% for the last year while the S&P 500 index is up 15.2% for the period.
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