Abercrombie & Fitch Co. (ANF - Free Report) , a specialty retailer of premium, high-quality casual apparel, released second-quarter fiscal 2016 results. The company reported adjusted loss of 25 cents per share, wider than the Zacks Consensus Estimate of loss of 23 cents. In the year-ago quarter, the company had reported adjusted loss per share of 12 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has remained stable over the last 30 days. In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 99.3%.
Revenues: Abercrombie & Fitch’s net sales dipped 4% year over year to $783.2 million with a 4% decline in comparable sales. Net sales also fell short of the Zacks Consensus Estimate of $788.6 million. Net sales fell 5% to $363.1 million for Abercrombie and 4% to $420.1 million for Hollister.
Key Events: During the quarter under review, the company opened 1 U.S. Hollister store, 2 international Hollister stores and 1 U.S. Abercrombie & Fitch store. During fiscal 2016, the company expects to open about 15 new outlets, comprising approximately 10 in international markets, mainly in China, and approximately 5 in the U.S. The company also plans to open 6 new outlet stores, principally in the U.S. The company also plans to shutter approximately 60 stores in the U.S.
Zacks Rank: Currently, Abercrombie & Fitch carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results.
Stock Movement: Abercrombie & Fitch’s shares are down 12% during pre-market trading hours following the earnings release.
Check back later for our full write up on Abercrombie & Fitch’s earnings report!
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Abercrombie & Fitch Co. (ANF - Free Report) , a specialty retailer of premium, high-quality casual apparel, released second-quarter fiscal 2016 results. The company reported adjusted loss of 25 cents per share, wider than the Zacks Consensus Estimate of loss of 23 cents. In the year-ago quarter, the company had reported adjusted loss per share of 12 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has remained stable over the last 30 days. In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 99.3%.
Revenues: Abercrombie & Fitch’s net sales dipped 4% year over year to $783.2 million with a 4% decline in comparable sales. Net sales also fell short of the Zacks Consensus Estimate of $788.6 million. Net sales fell 5% to $363.1 million for Abercrombie and 4% to $420.1 million for Hollister.
Key Events: During the quarter under review, the company opened 1 U.S. Hollister store, 2 international Hollister stores and 1 U.S. Abercrombie & Fitch store. During fiscal 2016, the company expects to open about 15 new outlets, comprising approximately 10 in international markets, mainly in China, and approximately 5 in the U.S. The company also plans to open 6 new outlet stores, principally in the U.S. The company also plans to shutter approximately 60 stores in the U.S.
Zacks Rank: Currently, Abercrombie & Fitch carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results.
Stock Movement: Abercrombie & Fitch’s shares are down 12% during pre-market trading hours following the earnings release.
Check back later for our full write up on Abercrombie & Fitch’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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