Wunderlich Securities Downgrades Abercrombie & Fitch (ANF) to Hold
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Janney Montgomery Scott Downgrades Abercrombie & Fitch (ANF) to Neutral
November 10, 2014 6:26 AM ESTJanney Montgomery Scott downgraded Abercrombie & Fitch (NYSE: ANF) from Buy to Neutral with a price target of $25.00 (from $41.00).
Analyst Adrienne Yih-Tennant cited: 1) decelerating total comparable sales, 2) FX headwinds and weak European sales trends that are likely to weigh more negatively on performance in the... More
Stifel Downgrades Abercrombie & Fitch (ANF) to Hold; Sees No Clear Path to N-T Improvement
November 7, 2014 2:51 PM ESTStifel is downgrading Abercrombie & Fitch (NYSE: ANF) from Buy to Hold while also removing its $50 price target.
Analyst Richard Jaffee noted the following key points:
Merchandise Not Resonating With Consumers While we believed it would take time to win back customers following several years of uninspiring offerings, it appears that the problem impacting ANF is greater than just a lack of brand awareness. We believe the new assortments are not resonating with consumers, evident... MoreAbercrombie & Fitch (ANF) Prelim. Q3 Revenue, EPS Misses Expectations
November 7, 2014 8:03 AM ESTAbercrombie & Fitch (NYSE: ANF) provided a business update on the Company's performance for the third quarter ended November 1, 2014.
Net sales for the third quarter decreased 12% to $911.4 million, compared to net sales of $1.033 billion for the prior year third quarter ended November 2, 2013.
*** The Street was at $982.2 million.
Total comparable sales, including direct-to-consumer sales, decreased 10% with comparable U.S. sales decreasing 7% and comparable international sales decreasing 15%. Total direct-to-consumer comparable sales increased 8%.
Sales during the quarter were below expectations with comparable sales in September and October being significantly weaker than August. Although the... More
