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Wednesday, Nov 14
2012, 8:39 AM
Heard on Abercrombie & Fitch's (ANF) earnings call: 1) Chain store sales and direct-to-consumer...
Heard on Abercrombie & Fitch's (ANF) earnings call: 1) Chain store sales and direct-to-consumer sales helped pace the U.S. business growth, while the company is "lapping" macro trends in Europe. 2) Expects to improve gross margin in Q4 as compared to its YTD trend and sees positive comp trends in Asia contributing to results. 3) Full-year guidance for capital expenditures is set at $360M. 4) Sees Q4 comparable sales falling at a mid single digit rate. 5) Closing more U.S. stores is called a "strategic initiative" as it looks forward. ANF +32.1% to $41.25. (webcast)