— Specialty apparel retailer Abercrombie & Fitch Co. (NYSE: ANF) reported adjusted earnings of $1.31 per share for the fourth quarter of 2019, vs. $1.23 per share expected.
— Net income dropped to $83.13 million or $1.29 per share from $96.94 million or $1.42 per share in the fourth quarter of 2018
— Net sales moved up 3% annually to $1.18 billion, vs. $1.17 billion expected; comparable store sales were up 1%, compared to 3% growth last year
— The board declared a quarterly cash dividend of $0.20 per share, payable on March 16, 2020, to stockholders of record on March 6, 2020
— Repurchased approximately 4.0 million shares of Abercrombie’s common stock during the quarter
— Expects net sales to be flat to up 2% in fiscal 2020, reflecting the estimated adverse impact of COVID-19 and unfavorable foreign exchange rates
— Expects full-year comparable sales to be down low-single digits; estimates gross profit to be down in the range of 50 basis points to 70 basis points year-over-year
— In the first quarter of 2020, net sales are expected to be down mid-single digits, reflecting the COVID-19 and foreign currency impacts
— First-quarter comparable sales are expected to be down mid-single digits; estimates gross profit to be down in the range of 100 basis points to 150 basis points
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Earnings: Highlights of Bed Bath & Beyond (BBBY) Q1 report
Home furnishing retailer Bed Bath & Beyond (NASDAQ: BBBY) has reported a net loss for the first quarter of 2022 when the company’s revenues declined by 25%. Net earnings, adjusted
Mattel (MAT): Here are a few points to keep in mind if you are considering this toymaker
Shares of Mattel Inc. (NASDAQ: MAT) have gained 1% year-to-date and 6% over the past 12 months. The company delivered double-digit growth in sales and improved profitability for its most
Prologis (PLD) set for long-term gains from high e-commerce demand
The ripples of the COVID-driven e-commerce boom are being felt beyond the retail industry, and the other sectors influenced by it include transportation and real estate. The high demand for