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Abercrombie & Fitch Q2 results beat expectations

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%. 


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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. 

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