Last $25.52 USD
Change Today -0.57 / -2.18%
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abercrombie & fitch co-cl a (ANF) Key Developments

Abercrombie & Fitch and Inter Parfums Enter into Seven- Year Exclusive Worldwide Fragrance License Agreement

Abercrombie &  Fitch and Inter Parfums  announced that  they have entered into a seven- year exclusive worldwide fragrance license agreement. Under the agreement, Inter Parfums  will create, produce and  distribute new perfumes and fragrance-related products, including new men's and women's scents planned for both Abercrombie & Fitch  and Hollister  for 2016. Inter  Parfums will  distribute these fragrances internationally in specialty retailers, high-end department stores and duty free shops, and in the U.S.,  in duty free shops  and potentially in Abercrombie and Hollister  retail  stores.  Financo, LLC  represented  Inter  Parfums  in  this transaction.

Abercrombie & Fitch Co. Announces Executive Changes

Abercrombie & Fitch Co. announced that Michael Jeffries is retiring as  Chief Executive Officer and a member of the Board of Directors, effective immediately. Abercrombie & Fitch's current Non-Executive Chairman  of  the Board, Arthur Martinez, will become Executive Chairman. The Board has established an Office of the Chairman, consisting of Mr. Martinez, as well as Jonathan Ramsden, Chief Operating Officer, Christos Angelides, Brand President of  Abercrombie & Fitch and  Fran Horowitz, Brand  President of Hollister. The Office of the Chairman, led by Arthur Martinez, will oversee the  Company's strategic direction and be responsible  for managing the company's day-to-day operations until a new CEO is appointed. Mr.  Martinez has served as Non-Executive  Chairman of Abercrombie & Fitch since January  2014.

Abercrombie & Fitch Co. Signs Agreement with Grupo AXO to Open New Store in Mexico

Abercrombie & Fitch Co. has entered into a franchise agreement with Grupo AXO, to open a retail store in Mexico. The franchise arrangement will encompass both the Abercrombie & Fitch and Hollister brands. The first Hollister store is set to open in late spring 2015 and the first Abercrombie & Fitch store is expected to open in late summer 2015. The company anticipates a continuing rollout that will include stores in cities like Mexico City, Guadalajara, Cancun and Playa Del Carmen.

Abercrombie & Fitch Co. Announces Earnings Results for the Third Quarter of Fiscal 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2015; Revises Earnings Guidance for the Full Year of Fiscal 2015

Abercrombie & Fitch Co. announced earnings results for the third quarter ended November 1, 2014. For the quarter, net sales were $911 million, down 12% to last year. Including direct-to-consumer, total comparable sales were down 10%. Sales during the quarter were below expectations, with the comp sales in September and October being significantly weaker than August. On an adjusted non-GAAP basis, operating income was $54 million compared to $60 million a year ago. Adjusted non-GAAP net income per diluted share of $0.42 compared to adjusted non-GAAP net income per diluted share of $0.52 last year. Net income was $18.2 million, or $0.25 per diluted share, up from $15.6 million, or $0.20 per diluted share a year ago. The company provided earnings guidance for the full year of fiscal 2015. The company expects full year non-GAAP adjusted diluted earnings per share in the range of $1.50 to $1.65 well below its late August forecast for $2.15 to $2.35. The guidance assumes a full year effective tax rate in the upper 30s, which reflects a lower proportion of earnings being generated in international operations than previously expected. The company announced that its latest guidance for the full year is based on the assumption that fourth quarter of 2015 comparable sales will be down by a mid-to-high single-digit percentage. The latest guidance also assumes a gross margin rate for the fourth quarter higher than last year, but lower than the third quarter year-to-date rate.

Abercrombie & Fitch Co. Enters into a Franchise Agreement with Grupo AXO to Establish A Retail Store Presence in Mexico

Abercrombie & Fitch Co. announced that it has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement, the first in the company's history, will encompass both the Abercrombie & Fitch and Hollister brands. The first Hollister store is set to open in late spring 2015 and the first Abercrombie & Fitch store is expected to open in late summer 2015. The company anticipates a continuing rollout that will include stores in cities like Mexico City, Guadalajara, Cancun and Playa Del Carmen.

 

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