Earnings

(Updated - May 24, 2013 7:19 AM EDT)

Abercrombie & Fitch Co. (NYSE: ANF) reported Q1 EPS of ($0.09), $0.04 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $838.9 million versus the consensus estimate of $941.66 million.

Total comparable sales for the quarter, including direct-to-consumer sales, decreased 15% with comparable store sales decreasing 17% and comparable direct-to-consumer sales decreasing 6%.

Abercrombie & Fitch Co. sees Q2 EPS of $0.28-0.33, versus the consensus of $0.31.

Based on a modestly more cautious view for the remainder of the year, Abercrombie & Fitch Co. sees FY2013 EPS of $3.15-3.25, versus the consensus of $3.49. This projection assumes comparable sales, including direct-to-consumer to be slightly down for the balance of the year.

Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said:

"Our results for the first quarter reflect a sixteen cent improvement in earnings per share versus last year, including better than expected gross margin rate improvement and tight expense management.

The first quarter proved to be more difficult than expected on the top-line due to more significant inventory shortage issues than anticipated, added to by external pressures.

However, comparable sales trends progressively improved during the quarter and with the inventory headwinds largely behind us, we expect to see continued sequential improvement in the second quarter. We are also making good progress on our cross-functional initiatives, which we expect will generate substantial operating margin improvement on a sustainable, long-term basis."

For earnings history and earnings-related data on Abercrombie & Fitch Co. (ANF) click here.

After the close, America's Car Mart, Inc. (NASDAQ: CRMT) reported Q4 EPS of $0.92, $0.01 worse than the analyst estimate of $0.93. Revenue for the quarter came in at $126 million versus the consensus estimate of $119.2 million.

Retail unit sales increase of 10% to 10,767 from 9,789 for the prior year quarter with productivity increase of 1.8% to 29.4 retail units sold per store per month from 28.9 for prior year quarter.

Average retail sales price increased $179 to $9,963 or 1.8% from the prior year quarter and $166 or 1.7% sequentially.

Net Charge-offs as a percent of average finance receivables of 7.1%, flat with prior year quarter.

For earnings history and earnings-related data on America's Car Mart, Inc. (CRMT) click here.

Destination Xl Grp (NASDAQ: DXLG) reported Q1 EPS of $0.02, $0.01 better than the analyst estimate of $0.01. Revenue for the quarter came in at $93.6 million versus the consensus estimate of $99.59 million. DXL comparable stores rose 17.7%.

Destination Xl Grp sees FY2013 revenue of $415-420 million, versus the consensus of $414.7 million.

Management Comments

"We continued to execute well on our strategy to accelerate the rollout of the Destination XL concept during the first quarter," said President and CEO David Levin. "Sales and net income growth was affected by a colder-than-usual spring. However, the softness in February and March was partially offset by strong sales in April when the weather warmed up. More importantly, our DXL stores continue to deliver strong results that are better than we initially expected. Dollars per transaction at our DXL stores this quarter increased 17.6% to $154 from $131 in the first quarter of last year. In comparison, dollars per transaction at our Casual Male XL stores was $110 for the first quarter of fiscal 2013. Catalog sales continue to be a drag on our direct business as we transition to a more digital-focused direct marketing strategy."

"The traction we have made with the DXL concept has been accomplished with essentially no marketing," said Levin. "On May 5, we launched a six-week national marketing campaign to define the DXL brand more clearly, expand market awareness and grow our active customer base. The comprehensive campaign consists of a TV, radio and digital marketing mix and is based on a successful test-campaign we conducted during the fall of 2012 and an additional small test during the first quarter. The early response has been positive and we are anticipating results similar to those experienced in the test markets. We anticipate that this national marketing campaign will significantly raise DXL brand awareness."

"Fiscal 2013 is a critical year for DXL and our transformation," said Levin. "This year, we plan to grow the number of DXL stores in operation by opening between 57 and 64 stores, while closing between 110 and 119 Casual Male XL and Rochester stores. To support this transformation, our capital expenditures for 2013 are expected to be approximately $45 million, net of anticipated lease incentives. We also are increasing our marketing spend by $10 million to support our new campaign and expand awareness of the DXL brand on a national scale. We remain confident that, by the end of fiscal 2016, the DXL concept will have the potential to generate sales of more than $600 million, an operating margin of greater than 10% and cash flow in the range of $60 to $70 million."


For earnings history and earnings-related data on Destination Xl Grp (DXLG) click here.

(Updated - May 24, 2013 7:19 AM EDT)

Abercrombie & Fitch Co. (NYSE: ANF) reported Q1 EPS of ($0.09), $0.04 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $838.9 million versus the consensus estimate of $941.66 million.

Total comparable sales for the quarter, including direct-to-consumer sales, decreased 15% with comparable store sales decreasing 17% and comparable direct-to-consumer sales decreasing 6%.

Abercrombie & Fitch Co. sees Q2 EPS of $0.28-0.33, versus the consensus of $0.31.

Based on a modestly more cautious view for the remainder of the year, Abercrombie & Fitch Co. sees FY2013 EPS of $3.15-3.25, versus the consensus of $3.49. This projection assumes comparable sales, including direct-to-consumer to be slightly down for the balance of the year.

Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said:

"Our results for the first quarter reflect a sixteen cent improvement in earnings per share versus last year, including better than expected gross margin rate improvement and tight expense management.

The first quarter proved to be more difficult than expected on the top-line due to more significant inventory shortage issues than anticipated, added to by external pressures.

However, comparable sales trends progressively improved during the quarter and with the inventory headwinds largely behind us, we expect to see continued sequential improvement in the second quarter. We are also making good progress on our cross-functional initiatives, which we expect will generate substantial operating margin improvement on a sustainable, long-term basis."

For earnings history and earnings-related data on Abercrombie & Fitch Co. (ANF) click here.

Foot Locker, Inc. (NYSE: FL) reported Q1 EPS of $0.90, $0.02 better than the analyst estimate of $0.88. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.63 billion. Comps up 5.2%

"I am pleased to report that the thoughtful implementation of our strategic priorities continues to deliver record financial and operational results for our shareholders and other stakeholders" said Ken C. Hicks, Chairman of the Board and Chief Executive Officer. "It takes a true team effort and excellent performance to generate the kind of momentum that enabled us to post the best quarterly profit results in our history as an athletic company --- for the second year in a row. I want to thank all of our associates for their consistent focus on, and strong execution of, our key initiatives, which led to this achievement."

For earnings history and earnings-related data on Foot Locker, Inc. (FL) click here.