Actionable news
0
All posts from Actionable news
Actionable news in ANF: ABERCROMBIE & FITCH CO.,

Abercrombie & Fitch (ANF) Stock Tumbles, Stifel: Q2 Loss Driven By Softer Sales

NEW YORK (TheStreet) -- Shares of Abercrombie & Fitch (ANF) were plunging 20.37% to $18.27 in late-afternoon trading on Tuesday as the company reported a wider-than-expected loss for the 2016 second quarter before today's market open.

Abercrombie & Fitch posted an adjusted loss of 25 cents per share, which was bigger than analysts' projected loss of 20 cents per share. Revenue came in at $783.2 million, above Wall Street's estimated $782.7 million in revenue.

Same-store sales declined 4% year-over-year during the quarter.

Stifel analysts said the loss was largely driven by weaker-than-expected same-store sales, which "drove higher than modeled gross margin pressure."

"Results were below expectation as a challenging retail...


More