Abercrombie & Fitch (ANF) Is “Hard to Bet Against,” Says Jim Cramer

Core Insights - Abercrombie & Fitch Co. (NYSE:ANF) reported second-quarter earnings with revenue of $1.21 billion and adjusted earnings per share of $2.32, surpassing analyst estimates of $1.20 billion and $2.30 respectively [2] - The company's midpoint revenue growth guidance of 6% for the current quarter also exceeded LSEG estimates of 4.3% [2] - Despite positive earnings results, Abercrombie & Fitch's shares declined due to a significant drop in comparable sales by 11% [2] - Jim Cramer expressed optimism about Abercrombie & Fitch, labeling it a "good growth company" and suggesting that its inventory issues are "fixable" [2][3] - Cramer stated that Abercrombie & Fitch is "hard to bet against," indicating confidence in the company's potential despite recent challenges [3] Financial Performance - Abercrombie & Fitch reported revenue of $1.21 billion for the second quarter [2] - Adjusted earnings per share were $2.32, beating analyst expectations [2] - The company provided a revenue growth guidance of 6% for the upcoming quarter, higher than the 4.3% estimated by LSEG [2] Market Reaction - Following the earnings report, Abercrombie & Fitch's shares fell due to an 11% decline in comparable sales [2] - Cramer's previous comments highlighted the company's inventory challenges but maintained a positive outlook on its growth potential [2][3]