{"id":27259,"date":"2012-05-17T04:20:00","date_gmt":"2012-05-17T04:20:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/abercrombie-fitch-q1-earnings-fall-anf\/27258\/"},"modified":"2012-05-17T04:20:00","modified_gmt":"2012-05-17T04:20:00","slug":"abercrombie-fitch-q1-earnings-fall-anf","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/abercrombie-fitch-q1-earnings-fall-anf\/27259\/","title":{"rendered":"Abercrombie &amp; Fitch Q1 Earnings Fall (ANF)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2011\/05\/8.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-8412\" title=\"Abercrombie &amp; Fitch\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2011\/05\/8-150x150.jpg\" alt=\"Abercrombie &amp; Fitch\" width=\"150\" height=\"150\"><\/a>Teen apparel retailer, Abercrombie &amp; Fitch (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ANF\">NYSE: ANF<\/a>) announced on Wednesday that its fiscal first quarter earnings dropped sharply even as same-stores sales in Europe declined due to sluggish economic conditions.<\/p>\n<p><span id=\"more-27259\"><\/span><\/p>\n<p>Company\u2019s shares ended fell 13% at $39.50 on Wednesday. During afterhours trading shares sunk another 0.38%, to trade at $39.35.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>On Wednesday, before the opening bell ring, Abercrombie shares were lower 5.7% as its sales grew slower than expected. The company however maintained its full-year profit guidance and expects mid-single digit decline in its same-stores sales for the remaining fiscal year.<\/p>\n<p>Although Abercrombie &amp; Fitch witnessed strong sales over the past two years, thanks mainly to growth of its international business-rising promotional pricing and increased raw material costs have challenged its bottom line and margins.<\/p>\n<p>Commenting over the results, Company\u2019s Chief Executive said to investors, \u201cWhile we are disappointed that European sales trends remain challenging in a very difficult macroeconomic environment, we are largely satisfied with our overall performance for the quarter in that context.\u201d<\/p>\n<p>The Company reported a profit of $2.99 million, or 3 cents a share for the quarter ended April 28, down from $25.1 million, or 28 cents, in the same period, last year. Analysts polled by Thomson Reuters had predicted earnings of 2 cents on revenue of $952 million.<\/p>\n<p>Sales jumped 10% to $921.2 million.<\/p>\n<p>Meanwhile, Company\u2019s gross margins stood at 62.6%, down from 65%.<\/p>\n<p>While total U.S. sales inched up 1% to $644.3 million, International sales climbed up 42% to $277 million.<\/p>\n<p>However, total same-store sales dropped by 5% for the quarter.<\/p>\n<p>A closer look at same-store sales shows that Abercrombie &amp; Fitch\u2019s same-store sales fell 4% while Abercrombie Kids\u2019 same-store sales dropped 11%. Same store sales for Hollister Co declined 5%.<\/p>\n<p>The Company also announced increasing its existing share repurchase program by 10 million shares, raising the number of authorized shares available to 12.9 million.<\/p>\n<p>&nbsp;<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-lower-post-biggest-weekly-drop-of-2012\/27448\"><br \/>\nStocks End Lower; Post Biggest Weekly Drop of 2012<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-in-red-in-late-trading-6\/27431\"><br \/>\nStocks in Red in Late Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/jp-morgan-knowing-the-future-playing-god\/27425\"><br \/>\nJP Morgan &#8211; Knowing the Future, Playing God<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-remain-in-green-3\/27419\"><br \/>\nGold and Silver Prices Remain in Green<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/u-s-stocks-inch-higher-facebook-commences-trading-on-nasdaq\/27415\"><br \/>\nU.S. Stocks Inch Higher, Facebook Commences Trading on Nasdaq<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/bidz-com-bidz-signs-going-private-merger-agreement\/27393\"><br \/>\nBIDZ.com &#8211; BIDZ &#8211; Signs Going Private Merger Agreement<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/resolute-abh-increases-ownership-of-fibrek-to-74-56\/27392\"><br \/>\nResolute &#8211; ABH &#8211; Increases Ownership of Fibrek to 74.56%<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Teen apparel retailer, Abercrombie &amp; Fitch (NYSE: ANF) announced on Wednesday that its fiscal first quarter earnings dropped sharply even [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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