Abercrombie & Fitch Falls On Mixed Q2 Earnings
Abercrombie & Fitch (NYSE: ANF) reported second-quarter losses of 48 cents per share, which beat the analyst consensus estimate by 3 cents.
The company reported quarterly sales of $841.08 million, which missed the analyst consensus estimate of $852.32 million by 1.32%. This is a 0.16% decrease over sales of $842.414 million the same period last year.
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"Trends improved throughout the second-quarter, enabling us to deliver constant currency revenue growth and meet our previously-issued comp and gross profit rate outlook, while continuing to tightly manage expenses. Importantly, we have had a solid start to back-to-school in the U.S. and we look forward to building on that momentum in the back half through exciting product and cohesive marketing campaigns," said Fran Horowitz, CEO of Abercrombie & Fitch.
Abercrombie & Fitch shares were trading down 8.6% at $15.55 in Thursday's pre-market session. The stock has a 52-week high of $30.63and a 52-week low of $14.66.
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