RBC Capital Downgrades Abercrombie & Fitch (ANF) to Underperform
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Go back to RBC Capital Downgrades Abercrombie & Fitch (ANF) to Underperform
November 21, 2016 8:57 AM EST
UBS maintained a Neutral rating on Abercrombie & Fitch (NYSE: ANF), and cut the price target to $15.00 (from $18.00), following the company's 3Q earnings report. ANF reported EPS of $0.02, significantly below the Street's $0.21 estimate. Flagship and tourist locations remain challenged at A&F, with international... More
November 18, 2016 7:33 AM EST
Abercrombie & Fitch (NYSE: ANF) reported Q3 EPS of $0.02, $0.19 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $821.7 million versus the consensus estimate of $830.6 million. Comparable sales for the third quarter down 6%.
"As expected, our third quarter was challenging. While Hollister improved sequentially, it was more than offset by disappointing performance in A&F. On a total company basis, conversion trends remained positive across both channels and the direct-to-consumer business grew domestically and internationally. In addition, we remained disciplined as expense and inventory were well... More
