RTTNews | Nov 23, 2021 10:19AM EST

10:19 Tuesday, November 23, 2021 (RTTNews.com) - Retail brand Abercrombie & Fitch Co. (ANF) shares are down 11% on the market despite the company reporting higher-than-expected adjusted earnings in the third quarter.

Net income reported by the company was $47.23 million or $0.77 earnings per share, up from $42.27 million or $0.66 earnings per share in the same quarter last year. Excluding one-time items, the earnings per share were $0.86 per share, compared to $0.76 per share last term. On average 10 analysts polled by Thomson Reuters estimated the earnings to be $0.66 per share.

The shares are presently trading at $41.51, down $5.53 or 11.76% since the previous close at $47.04. The stock opened at $42.06 in the morning. In the 52-week period, the shares have ranged between $18.69 and $48.97.

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