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Abercrombie & Fitch Q2 Results and Q3 Guidance Way Below Forecasts

By Warren Paige

The teen apparel retailer, Abercrombie & Fitch Co. (NYSE: ANF) reported 33% plunge in fiscal second-quarter profit. The retailer’s earnings and revenue also missed Wall Street’s expectation by a wide margin. Speaking to analysts in a conference call, Abercrombie & Fitch’s CEO Mike Jefferies said that weakness in female apparel business and lower customer traffic were the key factors behind poor showing. For the fiscal third quarter, the Company expects earnings to be in the range of 40 cents to 45 cents while analysts polled by Thomson Reuters were anticipating $1.06 a share.

August 22nd, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.