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Specialty retailer of premium, high-quality casual apparel, Abercrombie & Fitch Co. (ANF - Free Report) , released first-quarter fiscal 2016 results. The company reported adjusted loss of 59 cents per share, wider than the Zacks Consensus Estimate of loss of 50 cents. In the year-ago quarter, the company had reported adjusted loss per share of 53 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate has witnessed a downside in 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 89.8%.
Revenues: Abercrombie & Fitch’s net sales dipped 3.4% year over year to $685.5 million and also missed the Zacks Consensus Estimate of $706 million. On constant currency basis, comparable store sales were down 4%.
The company expects second quarter comparable sales to remain challenging. However, the company expects comparable sales to increase in the second half of the year.
Key Events: Abercrombie & Fitch declared a quarterly dividend of 20 cents per share, payable on Jun 13 to shareholders with record as on Jun 3.
Zacks Rank: Currently, Abercrombie & Fitch carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Abercrombie & Fitch’s shares are down 11.5% during pre-market trading hours following the earnings release. Clearly, a negative sentiment is palpable among investors following the company’s dismal results.
Check back later for our full write up on Abercrombie & Fitch’s earnings report!
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Specialty retailer of premium, high-quality casual apparel, Abercrombie & Fitch Co. (ANF - Free Report) , released first-quarter fiscal 2016 results. The company reported adjusted loss of 59 cents per share, wider than the Zacks Consensus Estimate of loss of 50 cents. In the year-ago quarter, the company had reported adjusted loss per share of 53 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate has witnessed a downside in 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 89.8%.
Revenues: Abercrombie & Fitch’s net sales dipped 3.4% year over year to $685.5 million and also missed the Zacks Consensus Estimate of $706 million. On constant currency basis, comparable store sales were down 4%.
The company expects second quarter comparable sales to remain challenging. However, the company expects comparable sales to increase in the second half of the year.
Key Events: Abercrombie & Fitch declared a quarterly dividend of 20 cents per share, payable on Jun 13 to shareholders with record as on Jun 3.
Zacks Rank: Currently, Abercrombie & Fitch carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Abercrombie & Fitch’s shares are down 11.5% during pre-market trading hours following the earnings release. Clearly, a negative sentiment is palpable among investors following the company’s dismal results.
Check back later for our full write up on Abercrombie & Fitch’s earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>