This afternoon after the market closed, retailer Abercrombie & Fitch (NYSE: ANF) posted its second quarter numbers, and the teen retailer came in above analyst estimates for the quarter.Shares of the company have moved 1.4% higher in after hours trading as a result of the company showing earnings of 88 cents per share, a penny above the 87 cents a share that Wall Street was expecting. Total net income in the quarter was $83.1 million, up from $65.7 million during the same period last year.
Total sales for the company rose by a respectable 22% year over year, but this was mainly because the retail chain added 97 stores over the past 12 months. I prefer to look at same stores sales figures, which showed a 2% drop year over year. Since same stores figures show sales only based on stores open 12 months or more, I find it more representative of the company's business. Having said that... I don't really view a 2% same store decline too bad, considering the tough retail market that the company is dealing with lately.Revenues jumped by 18% up to $1.5 billion.
Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.
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