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Abercrombie & Fitch Q2 Results and Q3 Guidance Way Below Forecasts

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.


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