Abercrombie and Fitch (ANF) Reports Q2: Everything You Need To Know Ahead Of Earnings

Young adult apparel retailer Abercrombie & Fitch (NYSE:ANF) will be reporting results tomorrow morning. Here’s what you need to know.

Abercrombie and Fitch beat analysts’ revenue expectations by 5.8% last quarter, reporting revenues of $1.02 billion, up 22.1% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ earnings estimates and a decent beat of analysts’ gross margin estimates.

Is Abercrombie and Fitch a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Abercrombie and Fitch’s revenue to grow 16.7% year on year to $1.09 billion, in line with the 16.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.28 per share.

Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 5 upward revisions over the last 30 days. Abercrombie and Fitch has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.9% on average.

Looking at Abercrombie and Fitch’s peers in the apparel and footwear retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Urban Outfitters delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 1%, and Boot Barn reported revenues up 10.3%, topping estimates by 1.6%. Urban Outfitters traded down 9.5% following the results while Boot Barn was up 13.7%.

Read our full analysis of Urban Outfitters’s results here and Boot Barn’s results here.

Investors in the apparel and footwear retail segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. Abercrombie and Fitch is up 9.9% during the same time and is heading into earnings with an average analyst price target of $192.5 (compared to the current share price of $165.99).

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