Abercrombie & Fitch Co. (NYSE: ANF) reported its most recent quarterly results before the markets opened on Thursday. The firm posted a net loss of $0.48 per share and $841.08 million in revenue. Consensus estimates had called for a net loss of $0.53 per share and $852.47 million in revenue, while the fiscal second quarter of last year reportedly had $0.06 in earnings per share and $842.41 million in revenue.
During the most recent quarter, net sales decreased 0.2% year over year, while comparable sales remained flat compared with positive comparable sales of 3% from last year.
In terms of its segments, Abercrombie & Fitch reported as follows:
- Hollister net sales increased 1% year over year to $504.76 million, an increase of 2% in constant currency.
- Abercrombie net sales decreased 2% to $336.32 million, a decrease of 1% in constant currency.
Looking ahead to the fiscal third quarter, the company expects to see net sales up about 1% and comparable sales to be flat. Consensus estimates are calling for $0.36 in EPS and $882.6 million in revenue for the coming quarter.
CEO Fran Horowitz commented:
Trends improved throughout the second quarter, enabling us to deliver constant currency revenue growth and meet our previously-issued comp and gross profit rate outlook, while continuing to tightly manage expenses. Importantly, we have had a solid start to back-to-school in the U.S. and we look forward to building on that momentum in the back half through exciting product and cohesive marketing campaigns.
Shares of Abercrombie & Fitch traded down about 10% at $15.36 early Thursday. The 52-week range is $14.66 to $30.63, and the consensus price target is $19.60.
24/7 Wall St.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.