logo-loader
viewAbercrombie & Fitch

Abercrombie in fashion after smaller-than-expected second half loss

A strong performance from its Hollister stores helped A&F’s overall loss come in narrower than expected

abercrombie store front
It’s been a difficult ride for retailers in recent months as they grapple with competition from online merchants

Abercrombie & Fitch Co (NYSE:ANF) shares were in fashion on Thursday after the teen fashion retailer reported a smaller-than-expected second quarter loss, helped by strong demand for its Hollister brand.

Comparable sales at Hollister, A&F’s beach-themed clothing brand, jumped 5% compared to the same period of 2016 and beat analyst expectations of a 2.9% rise.

That meant total sales at established stores only fell by 1% year-on-year, which was also better than Wall Street had forecast.

The main Abercrombie brand was the main drag, with same-store sales in that division falling 7%.

The total loss attributable to Abercrombie widened to US$15.5mln or 23 cents a share (Q2 2016: US$13.1mln loss, 16 cents a share).

Adjusted loss per share came in at 16 cents, comfortably lower than the 33 cents analysts had been looking for.

Sales also topped estimates, totalling US$779.3mln (Q2 2016: US$783.2mln) compared to expectations of US$759mln.

It’s been a rough 2017 for A&F shareholders with the stock down almost 20%, but things were looking up today.

ANF shares added 14.3% in pre-market trade to US$10.99.

Quick facts: Abercrombie & Fitch

Price: 9.48 USD

NYSE:ANF
Market: NYSE
Market Cap: $591.32 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

HANetf's Hector McNeil says price of gold is heading towards $3000 by year end

HANeft co-founder Hector McNeil talks to Proactive London's Katie Pilbeam about how the surge in gold above $2000 an ounce is benefiting his company. The platform's largest fund The Royal Mint Physical Gold ETC, which was launched in February has seen huge safe haven flows amid the...

5 hours, 27 minutes ago

2 min read