Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Abercrombie & Fitch Co.    ANF

Delayed Quote. Delayed  - 09/28 07:00:12 pm
15.86 USD   -2.34%
09/13 ABERCROMBIE & F : Shimmy Beach Club to host Men's Health Menswear Co..
09/07 ABERCROMBIE & F : American Eagle Taps Cass Bird for New, More Fashio..
09/01 ABERCROMBIE & F : Here's a First Look at the New Abercrombie & Fitch
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Abercrombie holiday sales down, gives soft forecast

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 05:45pm CEST

Abercrombie & Fitch Co (>> Abercrombie & Fitch Co.) on Friday reported a drop in comparable sales during the holiday quarter on weakness at its overseas stores and in its Hollister chain, and the youth retailer warned of a sluggish start to the new fiscal year.

Abercrombie & Fitch Co (>> Abercrombie & Fitch Co.) on Friday reported a drop in comparable sales during the holiday quarter on weakness at its overseas stores and in its Hollister chain, and the youth retailer warned of a sluggish start to the new fiscal year.

Shares were down 6.4 percent to $45.96 in midday trading.

Business at Abercrombie & Fitch has slumped amid intense competition for young shoppers' limited budgets from rivals such as American Eagle Outfitters (>> American Eagle Outfitters), Gap Inc (>> The Gap Inc.), and Forever21. The company's plan to build out flagship stores in Europe has yet to pay off.

Sales at stores open at least a year and online fell 1 percent during the quarter that included the Christmas period, and Abercrombie said it expects comparable sales this current quarter will again fall and lead to a loss for the period.

"It's been two full years of bad news," said Morningstar analyst Jaime Katz, noting that investors are getting anxious to see improvement.

Comparable sales were flat for the namesake chain and fell 2 percent at Hollister last quarter. They were little changed in the United States and down 3 percent abroad. Online sales were the only sector where Abercrombie is showing growth.

Abercrombie's profit got a boost from lower cotton costs and efforts to contain other costs. Chief Executive Mike Jeffries announced the creation of a special team led by two senior executives, helped by an outside firm, to find ways to lower expenses and lift operating margins.

"Our profitability is not where it needs to be," Jeffries said on a conference call with Wall Street analysts. He also said that a tough economy would continue to weigh on his customers this year.

The company has also undertaken its first global market study to better understand how shoppers view Abercrombie compared to its rivals and improve its ability to compete.

Overall sales rose 10.5 percent to $1.47 billion for the 14 weeks ended February 2, boosted by an extra week compared to the year earlier period. The result was below the $1.49 billion Wall Street was projecting, according to Thomson Reuters I/B/E/S.

A decrease in product costs like cotton sent its gross profit margin up 3.9 percentage points to 63.4 percent of sales.

Abercrombie announced it was changing how it accounts for merchandise it will mark down permanently.

Previously, the company lowered the value of its inventory and took a charge when the selling price was lowered permanently. Now, it won't reduce the value of inventory on its books unless it expects to sell the merchandise below cost.

Under the old accounting method for inventory, the company earned $173.2 million, or $2.15 per share, for the 14-week period, compared with $19.6 million, or 22 cents per share, a year earlier for a 13-week period.

Excluding an impairment charge, Abercrombie had a profit of $2.21 a share, 25 cents better than expected, according to Thomson Reuters I/B/E/S.

The company raised its quarterly dividend to 20 cents per share.

(Reporting by Phil Wahba in New York and Maria Ajit Thomas in Bangalore; Editing by Jeffrey Benkoe and Nick Zieminski)

By Phil Wahba

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ABERCROMBIE & FITCH CO.
09/13 ABERCROMBIE & FITCH : Shimmy Beach Club to host Men's Health Menswear Collection..
09/07 ABERCROMBIE & FITCH : American Eagle Taps Cass Bird for New, More Fashion-Orient..
09/06 ABERCROMBIE & FITCH : DE/ MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL COND..
09/01 ABERCROMBIE & FITCH : Here's a First Look at the New Abercrombie & Fitch
09/01 ABERCROMBIE & FITCH : J.Crew Shows No Signs of Improving in First Half of the Ye..
09/01 ABERCROMBIE & FITCH CO. : Post Earnings Coverage as Abercrombie Financial Result..
08/31 ABERCROMBIE & FITCH CO /DE/ : Results of Operations and Financial Condition, Fin..
08/31 ABERCROMBIE & FITCH : no longer cool as sales dip amid fierce competition
08/31 ABERCROMBIE & FITCH CO. : ex-dividend day
08/30 ABERCROMBIE & FITCH : Rebranding Strategy Has Yet to Translate to Consistent Sal..
More news
Sector news : Apparel & Accessories Retailers - NEC
09/22DJINDITEX : Delivers Strong Growth -- WSJ
09/21DJINDITEX : Unique Fast-Fashion Model Delivers More Breakneck Growth -- 3rd Update
09/21DJINDITEX : Correction to Zara Owner Inditex's Profit Article
09/21DJINDITEX : Zara Owner Inditex's Profit Beats Expectations -- 2nd Update
09/21DJINDITEX : Zara Owner Inditex's Profit Beats Expectations -- Update
More sector news : Apparel & Accessories Retailers - NEC
News from SeekingAlpha
09/26 An American Eagle Outfitters Deep Dive
09/09 Teens haven't given up on malls
09/07 INSIDERINSIGHTS.COM DAILY ROUND UP 9 : Advance Auto Parts, Norwegian Cruise, Ite..
09/04 Abercrombie & Fitch Is Closing In On A 5% Yield
09/02 Investors Need To Pick This No Frills Apparel Retailer
Advertisement
Financials ($)
Sales 2017 3 374 M
EBIT 2017 79,1 M
Net income 2017 48,5 M
Finance 2017 255 M
Yield 2017 5,13%
P/E ratio 2017 22,67
P/E ratio 2018 18,12
EV / Sales 2017 0,25x
EV / Sales 2018 0,22x
Capitalization 1 099 M
More Financials
Chart ABERCROMBIE & FITCH CO.
Duration : Period :
Abercrombie & Fitch Co. Technical Analysis Chart | ANF | US0028962076 | 4-Traders
Full-screen chart
Technical analysis trends ABERCROMBIE & FIT...
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 20,4 $
Spread / Average Target 26%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Fran Horowitz-Bonadies President & Chief Merchandising Officer
Arthur C. Martinez Executive Chairman
Joanne C. Crevoiserat Chief Financial Officer & Executive Vice President
James B. Bachmann Independent Director
Archie M. Griffin Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ABERCROMBIE & FITCH CO..-39.85%1 092
INDITEX SA4.07%115 006
FAST RETAILING CO LTD-22.86%34 398
ROSS STORES, INC.19.66%25 286
L BRANDS INC-23.77%20 970
ZALANDO SE0.00%10 215
More Results