BLUW - ANF Stock: 6 Reasons Why Abercrombie & Fitch Shares Are Sinking Lower Today
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Abercrombie & Fitch (NYSE:ANF) stock is falling on Thursday following the release of the company’s earnings report for the second quarter of 2021.
Let’s dive into that earnings report below and see what has holders of ANF stock unhappy today.
- The big blow to ANF stock today comes from the company’s revenue of $865 million for Q2.
- That’s below Wall Street’s estimate of $869.32 million for the period.
- The 24% climb from $698 million from the same period of the previous year wasn’t enough to satisfy traders.
- Not even strong adjusted earnings per share of $1.70 were able to save ANF stock today.
- That came in well above analysts’ estimates of 72 cents per share.
- It was also a massive jump from the 27 cents per share reported in Q2 2020.
Fran Horowitz, CEO of Abercrombie & Fitch, said the following in the earnings report.
“Looking ahead, we will remain on offense and are confident that the proactive steps we have taken to evolve our operating model and cost structure, combined with evolved brand positioning, should continue to yield near and long-term benefits.”
ANF stock is seeing heavy trading on Thursday alongside its earnings report. As a result, some 7.5 million shares of the stock have changed hands as of Thursday afternoon. That’s a major increase compared to its daily average trading volume of about 1.8 million shares.
ANF stock was down 11.7% as of Thursday afternoon but is still up 71.2% since the start of the year.
Investors hungry for more stock market news today are in luck!
InvestorPlace.com has all the latest stock news that traders need to know about today. A few examples include what has Glory Star New Media (NASDAQ:GSMG) stock soaring higher, a midday market update on why stocks are down, as well as the latest rumors and news moving Blue Water Acquisition (NASDAQ:BLUW) shares. You can get up to speed on all of these subjects at the links below!
More Thursday Stock Market News
- GSMG Stock: Why Penny Stock Glory Star New Media Is Going Gangbusters Today
- Midday Market Update: Why Are Stocks Down Today?
- BLUW Stock: 11 Things to Know About Blue Water SPAC Amid Short-Squeeze Rumors
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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