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Abercrombie & Fitch (NYSE:ANF) to Repurchase $1.30 billion in Outstanding Stock

Abercrombie & Fitch has announced a stock buyback program worth $1.30 billion to repurchase shares, initiated on March 5th by its board of directors.
The company reported $1.58 billion in revenue for the fourth quarter, exceeding analyst estimates by 1.2% and achieving a significant year-on-year growth of 9.1%.
CEO Fran Horowitz stated that Abercrombie & Fitch grew net sales by 16% to nearly $5 billion while expanding operating margin to 15%.
Market data shows that Abercrombie & Fitch has a market capitalization of $4.84 billion, with operating income and EPS growth of 53% and 72%, respectively.

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americanbankingnews.com

Abercrombie & Fitch (NYSE:ANF) to Repurchase $1.30 billion in Outstanding Stock

Abercrombie & Fitch (NYSE:ANF – Get Free Report) declared that its board has initiated a stock buyback program on Wednesday, March 5th, RTT News reports. The company plans to buyback $1.30 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 29.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued. Ana…

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