Abercrombie & Fitch (ANF) Tops Q3 EPS by 8c, Comps Increase 4%
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Abercrombie & Fitch (NYSE: ANF) reported Q3 EPS of $0.30, $0.08 better than the analyst estimate of $0.22. Revenue for the quarter came in at $859.1 million versus the consensus estimate of $818.9 million.
- with comparable sales for the third quarter up 4%
For the fourth quarter of fiscal 2017, the company expects:
- Comparable sales to be up low-single digits, and net sales to be up mid- to high-single digits, including benefits from the 53rd week and changes in foreign currency exchange rates
- The 53rd week to benefit net sales by approximately $38 million and operating income by approximately $2 million
- Changes in foreign currency exchange rates to benefit net sales by approximately $20 million and operating income by approximately $5 million, net of hedging
- A gross profit rate down approximately 100 basis points to last year's rate of 59.3%, in line with the third quarter year-over-year decline
- Operating expense, including other operating income, to be down approximately 1% from $553.7 million last year, with expense reductions partially offset by increases in volume-related expenses from higher sales and the adverse effect from changes in foreign currency exchange rates
- The effective tax rate to be in the mid 30s
- A weighted average diluted share count of approximately 70 million shares, excluding the effect of potential share buybacks
For earnings history and earnings-related data on Abercrombie & Fitch (ANF) click here.
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