NEW YORK (TheStreet) -- Abercrombie & Fitch (ANF) - Get Report stock is gaining Thursday after the teen retailer reported narrower-than-expected losses in its first quarter and beat revenue estimates.
By market open, shares had added 6.1% to $37.26.
Over the three months to April, the company reported net losses of 17 cents a share, 2 cents narrower than analysts surveyed by Thomson Reuters expected. Total sales slipped 2% to $822 million but came in higher than an anticipated $798 million.
TheStreet Ratings team rates ABERCROMBIE & FITCH as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ABERCROMBIE & FITCH (ANF) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."
- You can view the full analysis from the report here: ANF Ratings Report