Shares of Abercrombie & Fitch Co. (ANF, Financial) jumped more than 20% after the company posted third-quarter earnings of 33 cents per share on $861.2 million in revenue, reflecting 0.2% year-over-year growth. The company beat earnings estimates by 13 cents and revenue expectations by $7.33 million.
The gross profit margin was 61.3%, flat from the prior-year quarter. Operating income was $39.7 million, compared to $22.7 million last year. The company had a strong liquidity position; it ended the quarter with $520.5 million in cash and cash equivalents, up from $459.3 million a year ago.
Looking ahead to the fourth quarter, the company expects net sales to be down by mid-single digits and comparable sales to be up by low single digits. For the full year, it projects net sales will grow between 2% and 4%.
Shares of Box Inc. (BOX, Financial) lost about 0.4% on Thursday after announcing third-quarter results. The company posted a loss of 6 cents per share on $155.94 million in revenue, a 20.6% year-over-year growth. The company beat earnings estimates by one cent and revenue expectations of $1.36 million.
“In the third quarter, we delivered solid revenue growth and continued to drive operational efficiencies, and we're on track to deliver our first quarter of non-GAAP profitability in the fourth quarter,” Chief Financial Officer Dylan Smith said.Â
Free cash flow was -$4.1 million, compared to $6.3 million in the year-ago quarter. The decline was due to the anticipation of cash outflows, originally agreed to be paid in the next quarter.
Looking ahead to the fourth quarter, the company guided for revenue between $163.5 million and $164.5 million. Non-GAAP diluted earnings per share are projected to be in the range of 2 cents to 3 cents. For full fiscal 2019, the company expects revenue in the range of $608.2 million to $609.2 million.Â
Shares of Tilly's Inc. (TLYS, Financial) fell over 20% after reporting third-quarter earnings of 24 cents per share on revenue of $146.83 million, a 3.9% year-over-year decline. The company beat earnings estimates by one cent, but fell $2.22 million short of revenue expectations.
The gross profit was $45.8 million, down 8.6% from $50.1 million last year. The gross margin decreased 160 basis points to 31.2%.
For the fourth quarter, the company expects total net sales between $163 million and$168 million and earnings per diluted share between 22 cents and 26 cents.
Disclosure:Ă‚ The author holds no positions in any stocks mentioned.
