Abercrombie & Fitch (ANF) Reports Q1 Loss Per Share of 91c, Comps Decline 3%

May 25, 2017 7:37 AM EDT

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Abercrombie & Fitch (NYSE: ANF) reported Q1 EPS of ($0.91), does not compare to the analyst estimate of ($0.70). Revenue for the quarter came in at $661.1 million versus the consensus estimate of $650.99 million.

Fran Horowitz, Chief Executive Officer, said:

"We are encouraged by our progress across all brands, particularly in March and April as a whole, in an aggressively promotional environment. We are pleased with the performance of our largest brand, Hollister, as our strategic initiatives continue to deliver. Abercrombie comparable sales were in line with our expectations as we continue to apply the learnings from Hollister's successes. Our focus on closeness to our customers enables us to adapt and execute better and faster, ensuring more consistent delivery of the right product at the right time, with the right brand voice, and through the right brand experience.

While we anticipate the second quarter environment to remain promotional, we expect results to improve further in the second half of the year, as we see returns from our strategic investments in marketing and omnichannel. The international roll-out of full omnichannel capabilities, coupled with insights from multiple customer touchpoints online and in-store, including our rapidly growing loyalty programs, means we are better equipped to anticipate our customers' needs whenever, wherever and however they choose to engage with our brands. We continue to tightly manage costs and inventory, and focus on execution to position our business for sustainable growth."

Fiscal 2017 Comparable Sales Summary (1)
Brand Geography
First Quarter First Quarter
Hollister(2) 3% United States (3)%
Abercrombie(3) (10)% International (2)%
Total Company (3)% Total Company (3)%

(1) Comparable sales are calculated on a constant currency basis.
(2) Hollister includes the Hollister and Gilly Hicks brands.
(3) Abercrombie includes the Abercrombie & Fitch and abercrombie kids brands.

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

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