abercrombie & fitch co-cl a (ANF) Key Developments
Abercrombie & Fitch Co. Presents at Credit Suisse 2015 Chicago Consumer Roundup, Sep-24-2015
Sep 21 15
Abercrombie & Fitch Co. Presents at Credit Suisse 2015 Chicago Consumer Roundup, Sep-24-2015 . Venue: Credit Suisse Offices, Franklin Center, 227 West Monroe Street, Chicago, IL 60606-5016, United States. Speakers: Brian P. Logan, Vice President of Finance and Controller, Joanne C. Crevoiserat, Chief Financial Officer and Executive Vice President.
Abercrombie & Fitch Co. Reports Earnings Results for the Second Quarter and Six Months Ended August 1, 2015; Provides Capital Expenditures Guidance for the Full Year 2015; Provides Comparable Sales Guidance for the Second-Half of Fiscal 2015; Plans to Open 15 Full-Price Stores for the Full Year 2015; Expect to Close Approximately 60 Stores in the U.S. During 2015
Aug 26 15
Abercrombie & Fitch Co. reported earnings results for the second quarter and six months ended August 1, 2015. For the quarter, the company reported GAAP net loss of $0.8 million and net loss per diluted share of $0.01 for the thirteen weeks ended August 1, 2015, compared to GAAP net income of $12.9 million and net income per diluted share of $0.17 for the thirteen weeks ended August 2, 2014. The company posted revenue of $817.8 million in the period. Excluding certain items, the company reported an adjusted non-GAAP net income of $8.6 million and net income per diluted share of $0.12 for the second quarter, compared to adjusted non-GAAP net income of $14.1 million and net income per diluted share of $0.19 for the second quarter last year. The year-over-year reduction in adjusted non-GAAP net income per diluted share included an adverse impact from changes in foreign currency exchange rates of approximately $0.18. Excluding certain items, adjusted non-GAAP operating income was above last year on a constant-currency basis. Comparable sales for the second quarter decreased 7% in Abercrombie and 1% in Hollister.
Net loss attributable to the company for the six months ended August 1, 2015 was $64.06 million, or $0.92 loss per share, compared to a net loss attributable to the company of $10.79 million, or $0.15 loss per share, for the same period ended August 2, 2014. Net sales for the six months ended August 1, 2015 were $1.53 billion, compared to $1.71 billion for the same period ended August 2, 2014.
For the full year, the company announced that excluded from the company’s outlook for the rest of the year are potential charges related to impairment and store closings and other potential charges related to its strategic initiatives. The company also continues to target capital expenditures for the full year of approximately $150 million. In addition, the company expects an elevated tax rate on a full year basis, which remains highly sensitive to earnings mix. Over time, the company expects the tax rate will return to the mid- to upper 30’s.
With regard to real estate plans for the full year 2015, the company plans to open 15 full-price stores in the key international growth markets of China, Japan, and the Middle East and 6 full-price stores in North America. The company also plans to open 10 new outlet stores in the U.S. The company now expects to have approximately 13 new or converted stores with MFO merchandise by the end of the year, primarily in A&F.
In addition, the company continues to expect to close approximately 60 stores in the U.S. during 2015 through natural lease expirations.
The company provided outlook for the second-half of fiscal year 2015 and expects further comparable sales trend improvement, skewed towards the fourth quarter.
Abercrombie & Fitch Co. Declares Quarterly Dividend, Payable on September 9, 2015
Aug 21 15
Abercrombie & Fitch Co. reported that on August 20, 2015, the Board of Directors declared a quarterly cash dividend of $0.20 per share on the Class A Common Stock, payable on September 9, 2015 to stockholders of record at the close of business on September 1, 2015.
Abercrombie & Fitch Co. Announces Board Appointments
Aug 18 15
Abercrombie & Fitch Co. announced Stacie Beaver, general manager for A&F Womens. Stacie has worked at A&F for over 15 years in a variety of senior positions. Most recently, she led the bottoms business for men and women across Hollister and A&F. Kurt Hoffman, general manager for A&F Mens. Kurt joined A&F in March from Club Monaco, where as senior director of men's merchandising, he led the turnaround of the men's line including the integration of the DTC and international businesses. Previously, he helped re-launch the RRL brand for Ralph Lauren, worked to launch the Men's Shop concept for J.Crew, and was part of the team who led the global expansion for Jack Spade. Aaron Levine, Head Designer for A&F Mens. Aaron joined the company in July from Club Monaco, where he was vice president of men's design. In this role, he helped expand the line globally and elevate the brand through a number of channels, including a partnership with luxury e-commerce site, Mr. Porter. He has also held a number of senior design roles at Jack Spade, Rogues Gallery and Hickey Freeman. Monica Margerum, Head of Planning Operations for A&F and abercrombie kids. Monica joined A&F in August from Kohl's, where she was Senior Vice President of Planning for Juniors and Kids. Previously, she spent 14 years at Express, where she most recently served as Director of Merchandise Planning. Amy Sveda, general manager for abercrombie kids. Amy joined A&F in May from Carter's, where she helped revitalize the company's OshKosh brand. Prior to this, she worked at Louis Vuitton where she launched the brand's e-commerce site, and at Victoria's Secret, where she led various sub-brands within the broader business. Kristina Szasz, Head Designer for A&F Womens. Kristina will join the company in late September from PVH in Europe, where she served as design director for Denim at Karl Lagerfeld and Tommy Hilfiger. Throughout her career, she has held a number of creative director and critical design roles for companies such as Lee, Dockers, Iceberg, Nike, Ralph Lauren and Emilio Pucci.
Abercrombie & Fitch Co. to Report Q2, 2016 Results on Aug 26, 2015
Aug 7 15
Abercrombie & Fitch Co. announced that they will report Q2, 2016 results at 8:30 AM, Eastern Daylight on Aug 26, 2015