The New Albany, Ohio-based Abercrombie & Fitch Co (NYSE:ANF) is fighting to sell its preppy jeans and T-shirts at a time when fashion trends are shifting and a weak economy has left teens worldwide on tighter budgets.
Abercrombie & Fitch reported on Wednesday that its profit moved down by over 50% in the second quarter as a major sales figure moved down 10%. The figure plunged for the primary time since 2009 in the United States.
Abercrombie & Fitch Co made $15.5 million or 19 cents a share in earnings in the three months period finished July 28. That’s low from $32 million or 35 cents a share in the previous year.
FactSet analysts anticipated earnings of 17 cents a share. The company reported that total revenue moved up 4% to $951.4 million, but plunged short of Wall Street’s $954.9 million forecasts.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. The Buckle, Inc (NYSE:BKE) rose +0.30% to settle at $40.03, Urban Outfitters, Inc (NASDAQ:URBN) moved up +3.03% to end at $31.24 while American Eagle Outfitters (NYSE:AEO) jumped +1.39% to finish on Wednesday at $21.13.
Abercrombie & Fitch Co (NYSE:ANF) last session volume of 11.69 million shares was surprisingly higher than its average volume of 3.75 million shares. The stock after opening at $34.64 hit high price of $35.95 and then closed at $35.23 by scoring +8.97%.
The liquidity measure in recent quarter results of the company was recorded 2.04 as current ratio and on the other side the debt to equity ratio was 0.04 and long-term debt to equity ratio also remained 0.04. The Company had total cash at hand $359.52 million and a book value per share as $20.51 in the most recent quarter.
The stock price volatility was 3.89% for a week and 4.15% for a month as well as price volatility’s Average True Range for 14 days was 1.71 and its beta remained 1.65.
ANF generated revenue of 4.24 billion in the following twelve months and earned $105.50 million. The Company showed a positive +2.49% in the net profit margin and as well as in its operating margin which remained 3.71%. Company’s annual sales growth for the past five year was 4.62%.
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