Abercrombie & Fitch Co. (ANF) Tops Q3 EPS by 7c; Guides In-Line
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Abercrombie & Fitch Co. (NYSE: ANF) reported Q3 EPS of $0.52, $0.07 better than the analyst estimate of $0.45. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.06 billion.
Total comparable sales for the quarter, including direct-to-consumer sales, decreased 14% with comparable U.S. sales decreasing 14% and comparable international sales decreasing 15%. Total direct-to-consumer comparable sales increased 11% for the quarter. Within the quarter, comparable sales were weakest in August and September.
Abercrombie & Fitch Co. sees FY2013 EPS of $1.40-$1.50, versus the consensus of $1.48.
Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said:
"Our results for the third quarter reflect weakness in top-line performance, which we expect to continue in the fourth quarter. However, we continue to work hard to offset these conditions and are aggressively pursuing initiatives we believe will improve the sales trend as we go forward.
We believe a disciplined approach to execution of our long-term strategic plan will drive meaningful improvements in both the short and long-term. We have iconic brands with global appeal, a clearly defined aesthetic and a reputation for quality, heritage, and timeless fashion. We will continue to leverage those strengths as we adapt to changing markets and consumer dynamics."
For earnings history and earnings-related data on Abercrombie & Fitch Co. (ANF) click here.
Total comparable sales for the quarter, including direct-to-consumer sales, decreased 14% with comparable U.S. sales decreasing 14% and comparable international sales decreasing 15%. Total direct-to-consumer comparable sales increased 11% for the quarter. Within the quarter, comparable sales were weakest in August and September.
Abercrombie & Fitch Co. sees FY2013 EPS of $1.40-$1.50, versus the consensus of $1.48.
Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said:
"Our results for the third quarter reflect weakness in top-line performance, which we expect to continue in the fourth quarter. However, we continue to work hard to offset these conditions and are aggressively pursuing initiatives we believe will improve the sales trend as we go forward.
We believe a disciplined approach to execution of our long-term strategic plan will drive meaningful improvements in both the short and long-term. We have iconic brands with global appeal, a clearly defined aesthetic and a reputation for quality, heritage, and timeless fashion. We will continue to leverage those strengths as we adapt to changing markets and consumer dynamics."
For earnings history and earnings-related data on Abercrombie & Fitch Co. (ANF) click here.
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