CAPEX.com
CAPEX.com

Article Hero

Abercrombie & Fitch Q2 results beat expectations

1598534116.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Despite promising results, the future looks gloomy for Abercrombie

One of the largest American lifestyle retailers, Abercrombie & Fitch, posted the Q2 earnings. Upon the release, the markets were impressed.

After posting a net income of $5.5 million, or 9 cents per share, the company reported that compared to last year’s figures, sales dropped from $841.1 million to $698.3 million. It managed to beat the $658 million consensus. 

During the same time last year, it reported a loss of $31.1 million, or 48 cents/share. 

The retailer reported a 56% increase in digital sales to $386 million. 

Despite the promising results, #Abercrombie & Fitch expects the Q3 net sales to drop between 15%- 20% compared to the same time last year. Given the uncertainty surrounding the #COVID-19 #pandemic, the company didn’t provide any further guidance.

Following the report, Abercrombie & Fitch stock price gained over 9%. Year-to-date, it lost 35.6%, while USA500 added 7.7%. 

Sources: marketwatch.com, finance.yahoo.com 


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.