Abercrombie & Fitch (ANF) Smacked on Q4 Comps, EPS Expectations; U.S. Sales Lagging
Abercrombie & Fitch (NYSE: ANF) shares are getting shellacked Thursday following the company's fourth-quarter update.
A&F said fourth-quarter sales rose 16 percent to $1.329 billion, shy of the $1.38 billion sought on the Street. Additionally, comps for the quarter which were flat versus the same period last year were attributed "primarily...to lower than expected sales in U.S. stores."
Gross margin is expected to drop 7.5 points now.
Non-GAAP earnings are expected in a range of $1.10 to $1.15 per share, completely missing views calling for $1.55.
For fiscal 2012, A&F is modeling GAAP EPS of $3.50 to $3.75.
On the numbers, A&F shares are down more than 13 percent to $40.72 Thursday.
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A&F said fourth-quarter sales rose 16 percent to $1.329 billion, shy of the $1.38 billion sought on the Street. Additionally, comps for the quarter which were flat versus the same period last year were attributed "primarily...to lower than expected sales in U.S. stores."
Gross margin is expected to drop 7.5 points now.
Non-GAAP earnings are expected in a range of $1.10 to $1.15 per share, completely missing views calling for $1.55.
For fiscal 2012, A&F is modeling GAAP EPS of $3.50 to $3.75.
On the numbers, A&F shares are down more than 13 percent to $40.72 Thursday.
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