logo-loader
viewAbercrombie & Fitch

Abercrombie & Fitch bottom of the left-over pile

The shares were the worst performers in early trading in New York

Abercrombie & Fitch
The brand is losing popularity among the youth

Like-for-like sales fell for the third quarter in a row year-on-year at pricey clothes seller Abercrombie & Fitch Co (NYSE:ANF).

The shares were the worst performers in early trading in New York, tumbling 12.2% to US$14.86, as like-for-like sales fell 6% year-on-year, which was even worse than the 4.4% fall analysts had been expecting.

Underlying earnings per share crashed to two cents from 48 cents in the corresponding period of last year. Analysts had forecast a figure of 21 cents.

"As expected, our third quarter was challenging. While Hollister improved sequentially, it was more than offset by disappointing performance in A&F [Abercrombie & Fitch],” said Arthur Martinez, A&F’s executive chairman.

“On a total company basis, conversion trends remained positive across both channels and the direct-to-consumer business grew domestically and internationally. In addition, we remained disciplined as expense and inventory were well controlled,” Martinez said.  

Quick facts: Abercrombie & Fitch

Price: 9.31 USD

NYSE:ANF
Market: NYSE
Market Cap: $584.54 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

i3 Energy team discuss acquisition of Toscana Energy and new growth business

i3 Energy Plc's (LON:i3E) Majid Shafiq and Graham Heath speak to Proactive London's Andrew Scott following the news this morning of a new strategic acquisition - picking up producing assets in Canada. i3E's secured terms to acquire Toronto listed Toscana Energy Income Corporation which owns...

7 hours, 45 minutes ago

2 min read