Seeking Alpha

Abercrombie reports pleasing comps, ups guidance; shares +15.9% AH

  • Today, Abercrombie & Fitch (ANF) is the anti-Sears. The apparel retailer says its same-store sales fell only 6% Y/Y in the nine weeks ending Jan. 4. That easily beats guidance for a low double-digit percentage drop for FQ4 (ends this month), as well as an FQ3 level of -14%. (PR)
  • Comparable U.S. sales fell 4% (much better than FQ3's -18%), international sales fell 10%, and direct-to-consumer sales (a quarter of total revenue in December) rose 25%. Abercrombie adds "fall season carryover inventory levels are well controlled" as 2014 commences.
  • Abercrombie now expects FY14 (ends Jan. '14) EPS of $1.55-$1.65, above prior guidance of $1.40-$1.50 and a $1.47 consensus. FQ4 results are due on the morning of Feb. 26.

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Comments (1)
  • ystock15
    , contributor
    Comments (169) | Send Message
     
    GO ANF GO!! New price target $49 for ANF. Regains the old glory, just the matter of time that it will rebound to its normal price - $50 per share. $50, confirmed.
    10 Jan 2014, 05:29 PM Reply Like
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