Abercrombie & Fitch's (ANF) Flagship, Tourist Locations Pressured Q2 Results Amid Light Traffic - Stifel
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Analyst Richard Jaffe commented today:
- Flagship and tourist locations accounted for the vast majority of the comp sales decline in the 2Q due to weak traffic. Management expects these headwinds to continue to weigh on the business in the 2H, holding back sales. The stock is indicating down approximately 10% in pre-market on management’s cautious sales outlook.
- Management is encouraged by the solid growth in e-commerce in the 2Q, both domestically and internationally and by comp sales recovery in the Hollister European business, including in the U.K. Additionally, conversion trends were positive in both A&F and Hollister, internationally and domestically and across channels.
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