Abercrombie & Fitch Posts Record Sales in Q4

The clothing retailer posts strong gains during the quarter, and hikes its dividend, but misses on forward guidance.

Eric Volkman
Eric Volkman
Feb 22, 2013 at 5:51PM
Consumer Goods

Abercrombie & Fitch (NYSE:ANF) 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.