Pepsi, Abercrombie Profits Crater but Still Hit Expectations
In today's "not-so-bad is the new good" news, PepsiCo and Abercrombie & Fitch both reported big fourth-quarter earnings declines -- but both met or exceeded Wall Street expectations.
PepsiCo profit dropped 43 percent, but largely on one-time restructuring charges and the strength of the dollar cutting into overseas profits, meeting estimates. The makers of Pepsi, Gatorade, Doritos and other snacks, predicted a tough 2009.
Meanwhile, trendy clothing-maker A&F reported its fourth-quarter profit was down 68 percent, which just slightly beat analyst estimates.
-- Frank Ahrens
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By
Frank Ahrens
|
February 13, 2009; 10:38 AM ET
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The Ticker
| Tags: Abercrombie & Fitch, Gatorade, PepsiCo
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