Abercrombie & Fitch Co. (ANF) Posts Q1 Loss of 17c/Share
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Abercrombie & Fitch Co. (NYSE: ANF) reported Q1 EPS of ($0.17), $0.02 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $822 million versus the consensus estimate of $797.86 million.
Comps fell 4 percent in the quarter.
Mike Jeffries, Chief Executive Officer, said:
"In what remains a difficult teen retail environment, we are pleased that earnings for the quarter were in line with our expectations. Overall sales for the quarter decreased 2%, which included strong growth in our direct-to-consumer business. In addition, comparable sales continued to head in the right direction, and included significant sequential improvement in our female business and our Abercrombie & Fitch brand as a whole.
"We remain focused on returning to growth, and believe we are taking the right steps and are on course to accomplish that goal. As we look forward to the rest of 2014, we have made significant improvements throughout the organization to better align us for success, and we are energized by the opportunities ahead of us."
Abercrombie & Fitch Co. reaffirmed FY2014 guidance.
For earnings history and earnings-related data on Abercrombie & Fitch Co. (ANF) click here.
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