Categories Earnings, Retail

Infographic: Key highlights of Abercrombie & Fitch (ANF) Q1 2020 earnings results

Abercrombie & Fitch Co. (NYSE: ANF) reported its financial results for the quarter ended May 2, 2020, on Thursday before the market opens. The results missed analysts’ expectations.

The company posted a wider loss in the first quarter of 2020 due to the adverse tax impacts related to valuation allowances on deferred tax assets and other tax charges as well as material adverse impacts as a result of the COVID-19 pandemic. The top-line plunged by 34% year-over-year.

Abercrombie & Fitch Q1 2020 sales

With stores reopening in the US and the EMEA regions, the company has experienced sales productivity for reopened stores of about 80% and 60%, respectively, as compared to last year’s levels. The company has seen and may continue to see, material adverse impacts as a result of the COVID-19. The company is providing a detailed outlook for Q2 of FY20 due to the impacts of the pandemic on its operations and on the overall customer demand.

Past Performance

Also Read:  At Home Group Inc. (HOME) Q2 2021 Earnings Call Transcript

Most Popular

COVID-19 drove retailers up the digital path years ahead than anticipated

Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to

Snowflake (SNOW) creates a record as the most successful software IPO ever; stock more than doubles

Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming

Adobe (ADBE) sees new tailwinds as virtual shift gathers steam

The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related