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More on Abercrombie & Fitch's Q2

  • Abercrombie & Fitch (NYSE:ANF) managed to top Q2 earnings estimate by keeping a tight lid on costs.
  • The retailer cut marketing, general and administrative expenses by 6%, while expenses for stores and distribution expense were trimmed by 10%.
  • Comp sales by brand: Abercrombie & Fitch -1%; Abercrombie Kids -6%; Hollister -10%.
  • Guidance for comp sales for the full year is for a decline at a mid-single-digit rate, although a "modest" improvement has been seen at stores since the back-to-school season started.
  • ANF -5.3% premarket
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