Abercrombie & Fitch Q1 Results Well Above Estimates - Quick Facts

(RTTNews) - Specialty retailer Abercrombie & Fitch Co. (ANF) reported Wednesday a net income of $41.77 million or $0.64 per share for the first quarter, compared to a net loss of $244.15 million or $3.90 per share last year. Adjusted earnings per share were $0.67 for the quarter

Net sales for the quarter surged 61 percent to $781.41 million from last year's $485.36 million. In light of store closures related to COVID-19, the Company has not disclosed comparable sales for Fiscal 2021.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.38 per share on revenues of $687.35 million for the quarter. Analysts' estimates typically exclude special items.