(CercleFinance.com) – Abercrombie & Fitch shares fell 5% this Tuesday on Wall Street, the victim of profit-taking following the publication of its quarterly results, after seeing its price almost quadruple this year.
Abercrombie’s total sales in stores open more than a year increased 16% in the third quarter, ended at the end of October, driven by good performance from the Abercrombie and Hollister brands.
Its operating profit came to $138 million, compared to $18 million a year earlier, a performance once again higher than the forecasts established by the American clothing group.
Abercrombie has also revised upwards its objectives for the entire financial year, now expecting annual net sales to increase by 12% to 14%, and no longer around 10%.
Its operating margin should be around 10%, compared with a previous forecast which targeted between 8% and 9%.
Despite this solid publication, the stock lost a little more than 5% Tuesday morning on the New York Stock Exchange, investors believing that it was time to take a breather after a gain of almost 200% this year.
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