Abercrombie & Fitch Reports Second Quarter Results

Abercrombie & Fitch Co. (NYSE: ANF) today reported a GAAP net loss per diluted share of $0.23 for the second quarter ended July 29, 2017, compared to a GAAP net loss per diluted share of $0.19 for the second quarter last year. Excluding certain items, the company reported an adjusted non-GAAP net loss per diluted share of $0.16 for the quarter, compared to an adjusted non-GAAP net loss per diluted share of $0.25 last year. Year-over-year changes in foreign currency exchange rates did not have a meaningful impact on net loss per diluted share for the quarter.

Fran Horowitz, Chief Executive Officer, said: “We are encouraged by the clear progress across all brands. Through aggressive execution of our strategic plan, we delivered our third consecutive quarter of sequential comparable sales improvement. Hollister continues to build on its strong foundation, leveraging higher levels of customer engagement to drive growth across all touchpoints, and demonstrates how the customer responds when product, brand voice and brand experience are aligned. Abercrombie showed continued improvement in the areas we expected, as we brought better balance to the assortment throughout the quarter, and continued to apply the learnings from Hollister’s successes. Our focus remains on staying close to our customers and investing in our ability to meet their needs whenever, wherever and however they choose to engage with our brands.

While we expect the environment to remain challenging and promotional in the second half, we expect to see benefits from the continued improvement in product assortment, our strategic investments in marketing and omnichannel, and our ongoing efforts to optimize productivity across all channels. We are confident we are on the right path to deliver enhanced performance and long term shareholder value.”

Net sales for the second quarter were $779.3 million, down from $783.2 million last year, with comparable sales for the second quarter down 1%.

By brand, net sales for the second quarter increased 6% to $446.6 million for Hollister and decreased 8% to $332.7 million for Abercrombie over last year.

By geography, net sales for the second quarter decreased 2% to $470.3 million in the U.S. and increased 2% to $309.0 million in international markets over last year.

Direct-to-consumer sales grew to approximately 24% of total company net sales for the second quarter, compared to approximately 23% of total company net sales last year.

The gross profit rate for the second quarter was 59.1%, 160 basis points lower than last year on a constant currency basis, primarily due to lower average unit retail.

Stores and distribution expense for the second quarter was $369.3 million, down from $382.9 million last year, primarily due to expense reduction efforts, partially offset by higher direct-to-consumer expense.
more detail at:  http://ir.abercrombie.com/anf/investors/investorrelations.html

Related Posts

Print Unit Sales Up 21.3% in Mid-February (publishersweekly.com)

For the week ended Feb. 13, 2021, unit sales of print books increased 21.3% over the week ended Feb. 15, 2020, at outlets that report to NPD BookScan. It was the second consecutive week that unit sales rose by more than 20% over the comparable week last year. The increase was accomplished without the benefit of a big new hit and once again reflected strength across all major categories as well as big gains for backlist titles. The YA categories had the strongest gains, with nonfiction unit sales jumping 71.7% and fiction up 49.3% over 2020. Two anti-racist books—Stamped by Jason Reynolds and This Book Is Anti-racist by Tiffany Jewell—led the increase in YA nonfiction. We Were Liars by E. Lockhart topped the YA fiction list, selling almost 12,000 copies. Juvenile fiction sales rose 25.1% over 2020, and Llama, Llama I Love You by Anna Dewdney was #1 on the category list, selling about 38,000 copies.

Survey Shows Paper Preferred for Information Credibility, Reading Pleasure

While the digital revolution is changing the way people learn, work, pay and play, print is still a preferred choice for many aspects of American life. New research shows that the perception of information credibility increases with print, and that people find reading on paper more enjoyable than reading on digital devices. In 2017, Two Sides North America commissioned a survey of more than 2,000 adults in the United States to find out how print and paper are viewed in a digital world. Two Sides is an independent nonprofit organization created to promote the sustainability of print and paper. Its members, including Domtar, span the print and paper value chain, including forestry, pulp, paper, inks and chemicals, pre-press, press, finishing, publishing, printing, envelopes and postal operators. Phil Riebel, president of Two Sides North America, spoke about the survey’s key findings and explored how digital and print play complementary roles in the ways consumers live. Click Read More below for additional information.

Barnes & Noble Reports Holiday Comparable Store Sales

Barnes & Noble, Inc. reported holiday sales for the nine-week holiday period ending December 30, 2017. Total sales for the holiday period were $953 million, declining 6.4% as compared to the prior year. Comparable store sales also declined 6.4% for the holiday period, while online sales declined 4.5%. Entering December, the Company was encouraged by the comparable store sales improvements throughout the second quarter and into November. Click Read More below for additional information.
Back To Top
×Close search
Search