Abercrombie & Fitch Posts Record Sales in Q4
Abercrombie & Fitch has released preliminary results for its fiscal Q4 and 2012. For the quarter, the company brought in a record $1.47 billion in sales, and netted $157 million ($1.95 per diluted share). Both figures were improvements over Q4 2011's numbers, which were $1.3 billion and $46 million ($0.52), respectively.
On average, analysts were expecting this past quarter's revenue to come in at $1.49 billion, and EPS to amount to $1.96.
For the full year, top line was $4.51 billion, and the firm netted $237 million ($2.85 diluted EPS), against 2011's sales of $4.16 billion, and net of $144 million ($1.60).
On the back of the higher figures, Abercrombie raised its dividend payout. The company is to disburse $0.20 per share on March 19 to stockholders of record of as March 4. The previous distribution was $0.175.
Going forward, the firm provided guidance for the entirety of fiscal 2013. It expects to post EPS of $3.35-$3.45, somewhat lower than the average $3.63 projected by analysts. Additionally, during the year, Abercrombie plans to open new flagship stores in Shanghai and Seoul, while closing around 40-50 stores in the U.S.
The article Abercrombie & Fitch Posts Record Sales in Q4 originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Abercrombie & Fitch. The Motley Fool has no position in Abercrombie & Fitch. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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