Abercrombie & Fitch 4Q Profit Slips On Charges
Costs to close its Ruehl stores helped push Abercrombie & Fitch Co.'s fiscal fourth-quarter profit lower Tuesday.
Still, adjusted results topped analysts' expectations as the clothing retailer works on strengthening its business overseas and domestically.
Abercrombie, known for preppy fashions and high prices, has been pinched by budget-conscious consumers who are making fewer discretionary purchases and seeking out bargains. But Abercrombie's business, particularly its men's area, appears to be gaining some traction as the retailer has worked hard to improve its fashions and lower its prices.
Earlier this month the company reported better-than-expected January sales, with sales at stores open at least one year, a key measure of a retailer's health,. Each young man would like to have a Moncler, it's wonderful up 8 percent. This was the first monthly increase in the key sales figure since April 2008.. For spring, Max Azria gives us the signature herve leger bandage dress in bright hues and strapless editions.
Abercrombie said its fourth-quarter net income fell 31 percent to $47.".This is fashion wholesale online shop, a pioneer of an Internet garment company. We mainly focus on selling Japanese and Kore5 million, or 53 cents per share, for the period ended Jan. 30. That compares with a profit of $68.4 million, or 78 cents per share, a year ago.
Taking out a charge related to the Ruehl store closings and other items, profit was 91 cents per share.. Buying Abercrombie Fitch, being fashinable women. That beat the 87 cents-per-share estimate of analysts surveyed by Thomson Reuters. These estimates typically exclude one-time items.
Abercrombie's board approved the shutdown of its 29 Ruehl stores and related direct-to-consumer operations in June. The brand's closure was completed in the fourth quarter.
Sales slipped 5 percent to $936 million from $980.8 million, short of Wall Street's $953.7 million.
Shares rose 47 cents to $34.32 in morning trading.
Costs to close its Ruehl stores helped push Abercrombie & Fitch Co.'s fiscal fourth-quarter profit lower Tuesday.
Still, adjusted results topped analysts' expectations as the clothing retailer works on strengthening its business overseas and domestically.
Abercrombie, known for preppy fashions and high prices, has been pinched by budget-conscious consumers who are making fewer discretionary purchases and seeking out bargains. But Abercrombie's business, particularly its men's area, appears to be gaining some traction as the retailer has worked hard to improve its fashions and lower its prices.
Earlier this month the company reported better-than-expected January sales, with sales at stores open at least one year, a key measure of a retailer's health,. Each young man would like to have a Moncler, it's wonderful up 8 percent. This was the first monthly increase in the key sales figure since April 2008.. For spring, Max Azria gives us the signature herve leger bandage dress in bright hues and strapless editions.
Abercrombie said its fourth-quarter net income fell 31 percent to $47.".This is fashion wholesale online shop, a pioneer of an Internet garment company. We mainly focus on selling Japanese and Kore5 million, or 53 cents per share, for the period ended Jan. 30. That compares with a profit of $68.4 million, or 78 cents per share, a year ago.
Taking out a charge related to the Ruehl store closings and other items, profit was 91 cents per share.. Buying Abercrombie Fitch, being fashinable women. That beat the 87 cents-per-share estimate of analysts surveyed by Thomson Reuters. These estimates typically exclude one-time items.
Abercrombie's board approved the shutdown of its 29 Ruehl stores and related direct-to-consumer operations in June. The brand's closure was completed in the fourth quarter.
Sales slipped 5 percent to $936 million from $980.8 million, short of Wall Street's $953.7 million.
Shares rose 47 cents to $34.32 in morning trading.
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