Abercrombie & Fitch misses same-store sales estimates

August 30, 2018

(Reuters) – Apparel retailer Abercrombie & Fitch Co <ANF.N> missed quarterly same-store sales estimates on Thursday, hurt by lower-than-expected sales at its namesake line of teenage apparel and Hollister brand of surfwear.

The company said sales at established stores rose 3 percent in the quarter. Analysts on average had expected 3.7 percent increase, according to Thomson Reuters I/B/E/S.

Net loss attributable to Abercrombie narrowed to $3.9 million, or 6 cents per share, in the second quarter ended Aug. 4, from $15.5 million, or 23 cents per share, a year earlier.

The company’s net sales rose to $842.4 million from $779.3 million.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

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August 30, 2018 at 05:21PM
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