The firm had revenue of $817.80 million for the quarter, compared to analysts’ expectations of $812.03 million. The shares were purchased at an average price of $22.16 per share, for a total transaction of $1,001,632.00.
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New Albany-based Abercrombie is in the midst of a massive turnaround, and second-quarter earnings seemed to reflect that the company is beginning to gain traction.
The gross profit rate for the second quarter was 62.3%, 20 basis points higher than previous year.
(2) Abercrombie includes the Abercrombie & Fitch and abercrombie kids brands.
Abercrombie & Fitch Company (NYSE:ANF) rose 5.17% or 0.85 points on Monday and made its way into the gainers of the day. To accelerate our efforts, we have reinvigorated Abercrombie & Fitch’s brand design and merchandising teams, recruiting a number of talented executives with expertise relevant to our needs.
Chico’s FAS, Inc. reported an EPS of $0.25 for the quarter, exceeding the consensus estimate of $0.21. The stock was purchased at an average price of $22.55 per share, for a total transaction of $225,500.00. The company has a market cap of $1,201 million and there are 69,569,000 shares in outstanding. An earnings surprise in either a positive or negative direction can often result in significant stock price movement immediately after the earnings announcement, but can also have a long-term effect as well. On August 27, 2014 The shares registered one year high of $45.5 and one year low was seen on August 21, 2015 at $16.36. The money flow data is a negative $(-6.96) million with $14.98 million in upticks and $21.95 million in downticks. Chico ” s second-quarter net tumbled 93% to $2 million. Interest coverage ratio deteriorated to 0.43 for the quarter from 9.65 for the same period a year ago. Janney Montgomery Scott downgraded shares of Abercrombie & Fitch Co. from a “neutral” rating to a “sell” rating and lowered their target price for the company from $17.00 to $15.00 in a report on Friday, May 29th.
The bottom-line of the company was impressive as well, outperforming analysts’ projections. Jefferies Group reaffirmed a buy rating and set a $30.00 target price on shares of Abercrombie & Fitch Co.in a research report on Tuesday, June 23rd. (NYSE:ANF) through its auxiliaries, operates as a specialty retailer of apparel for men, women, and kids.
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The company plans to open 15 full-price stores in fiscal 2015 in the key growth markets of China, Japan and the Middle East, six full price stores in North America and ten new outlet stores in the U.S. As of January 28, 2012, A&F operated 946 stores in United States and 99 stores outside of the United States. It also sells bras, knickers, personal care products, sleepwear and at-home products for girls through Hollister underneath the Gilly Hicks brand.
