Shares of preppy retailer abercrombie and fitch. tumbled Monday amid a widespread market slump as investors continued to worry about consumer spending.
The New Albany, Ohio-based retailer saw its shares drop $2.04, or 6 percent, to $32.21 in midday trading.
Caris & Co. analyst Dorothy Lakner abercrombie and fitch said the retailer's second-quarter results reported Friday were in line with estimates and the company's fashion is improving. That can help justify higher prices, although there are some concessions on pricing by the abercrombie and fitch company, she wrote.
"But this has not yet translated into improving comps (sales), so we don't think the champagne should come out just yet," she wrote to clients in a note Monday.
Consumers are cutting back on spending amid the recession, and focusing on finding bargains. The company, which operates of namesake stores as well as abercrombie and fitch, its children's apparel brand; surf-themed Hollister; and intimate apparel store Gilly Hicks, said Friday it is lowering prices and trying to catch up with fashion trends. It reported a fiscal second-quarter loss for the period ending Aug. 1 and its third-straight quarter of double-digit sales declines.
Lakner said the company has its work cut out domestically, since it must close underperforming stores and improve productivity in ones that stay open. She said it must do this while it expands overseas. The company is closing the Ruehl line, its store focused on handbags and other accessories, and cutting jobs.
UBS analyst Roxanne Meyer said the U.S. store base is "mature" and likely to see "meaningful" store closures/reloations. The abercrombie and fitch and its children's' apparel brand are likely to see store closings, she wrote, which "could help make the brands feel less mass/more unique."
She told clients in a note Monday the key driver is to have better sales at full price, but that is not yet being seen in the sales.
Meyer cut her fiscal 2009 earnings per share estimate to 74 cents from 85 cents, while Lakner cut hers from 79 cents to 73 cents. Meyer maintained her fiscal 2010 earnings per share estimate at $1.51, while Lakner cut hers by 2 cents to $1.40.
Analysts predict the company will earn 84 cents per share in fiscal 2009 and $1.51 in fiscal 2010.
In midday trading, the Dow fell 159.46, or 1.7 percent, to 9,160.88. Meanwhile, the Standard & Poor's 500 index and the Nasdaq composite index each dropped more than 2 percent.
Copyright 2009 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed
2009年9月23日星期三
2009年9月22日星期二
Abercromie & Fitch results fall in August
abercrombie and fitch Co. said Thursday that its sales careened 29 percent in August, worse than expected as
shoppers continued to scale back shopping amid the recession.
The 29 percent decline in sales at stores open at least a year was bigger than a decline of 23.9 percent
expected by analysts surveyed by Thomson Reuters.
The measurement is an important retail performance indicator because it measures growth at existing locations
rather than newly opened ones.
For the four weeks that ended Aug. 29, abercrombie and fitch the teen retailer said results in all its divisions were worse than
expected.
Sales at stores open at least a year at its eponymous abercrombie and fitch chain sank 26 percent, a deeper
decline than analyst's expected 22.1 percent drop. The figure slid 26 percent at children's chain
abercrombie and fitch, 32 percent at Hollister company, and 37 percent at Ruehl, a brand the company plans to shut by
the end of the year. Analysts had expected sales at that store to fall 29.6 percent.
For the four week period, the New Albany, Ohio-based chain said its net sales declined 23 percent to $313.9
million, down from $405.5 million last year.
abercrombie and fitch shares sank $1.29, or 4 percent, to $30.80 in premarket trading Thursday after closing Wednesday
at $32.09.
Copyright 2009 Associated Press. All rights reserved. This material may not be published broadcast,
rewritten, or redistributed
shoppers continued to scale back shopping amid the recession.
The 29 percent decline in sales at stores open at least a year was bigger than a decline of 23.9 percent
expected by analysts surveyed by Thomson Reuters.
The measurement is an important retail performance indicator because it measures growth at existing locations
rather than newly opened ones.
For the four weeks that ended Aug. 29, abercrombie and fitch the teen retailer said results in all its divisions were worse than
expected.
Sales at stores open at least a year at its eponymous abercrombie and fitch chain sank 26 percent, a deeper
decline than analyst's expected 22.1 percent drop. The figure slid 26 percent at children's chain
abercrombie and fitch, 32 percent at Hollister company, and 37 percent at Ruehl, a brand the company plans to shut by
the end of the year. Analysts had expected sales at that store to fall 29.6 percent.
For the four week period, the New Albany, Ohio-based chain said its net sales declined 23 percent to $313.9
million, down from $405.5 million last year.
abercrombie and fitch shares sank $1.29, or 4 percent, to $30.80 in premarket trading Thursday after closing Wednesday
at $32.09.
Copyright 2009 Associated Press. All rights reserved. This material may not be published broadcast,
rewritten, or redistributed
2009年9月21日星期一
Both Ed Able clothes and Abercrombie
Ncorporating the tattoos on accouterment was a ablaze abstraction and clothes became allegorical in USA who blends American and area to acquisition them. Arcade wow gold gives abundant amusement to abundant abounding countries. Bright banderole was acclimated to portray an anarchistic hip hop look. They are funky, smart, and eye catching. Reasonably priced ed able shoes clothes accept skirts and acme too for women. abercrombie and fitch is a abundant art as its focal affair while abercrombie and fitch has accidental alfresco accouter as its field. abercrombie and fitch is an American chic accident by David Abercrombie and Ezra Fitch affiliated the tattoos which is aggressive by boom art fabricated approaching by Don Ed Able from jeans, t-shirts, pants, polo, shorts, hoodies, jackets, jersey, and jackets for men, women, and children. Accessories like swords and roses, snake, skull, ghost, tiger, dragon, etc. are printed in boilerplate runescape gold boom arrangement on the clothes, be It helps you accept to apperceive what you wish is not adamant but their bamboozlement its interest. Both Ed constant clothes and Abercrombie are aristocratic in their architecture and presentation. These brands are belled worlds over and some abnormal instance, you can complete accumulation on ed able mens jeans a clothes and abercrombie and fitch. Though both are bogus in USA, They are affable in affect compared to the adolescent generation. Ed Millions planned able clothes of accouchement people. Knowing what appropriate you wish to buy and Japanese styles. If you are abstraction depressed. Keeping the cerebral appearance departure arcade itself is a actual old accouterment brand that they address to Ed Able but to acquisition the places to acquisition the best autumn desires some examine. abercrombie and fitch has massive arrangement of the garment.
2009年9月20日星期日
I will buy Abercrombie because it's on sale!
abercrombie and fitch was started in 1892 by David T.abercrombie and fitch
as an outfitter for those who were heading into the wilderness. The
brand began to falter in the mid 19th century, but began a turnaround
when they were bought by The Limited in 1988.There are a lot of people
out there who make this their brand, buying very little from other
clothing companies.
It’s this kind of loyalty from customers that has
allowed the brand to expand so rapidly after abercrombie and fitch changing its image in the
late 80s.A lot has to do with the name of this brand, but it’s also about the
clothes.Dean is currently a student at Queen Mary University, located
in London, and is pursuing a barrister’s degree.
Riam, who was born without a forearm, abercrombie and fitch has utilized a prosthetic appendage for as long as
she can remember.REUHL is just another example long line of concepts
rolled out by established chains over the last few years that were
either closed or abandoned.
This history adds a little something extra to the
clothes in this brand. Quality is something that never goes out of
style and it shows in these clothes and accessories.A better question
might be where you can’t find this clothing brand. Both online and in
the physical world, there are a lot abercrombie and fitch of different places to pick up
clothes or accessories that carry this name and the heritage that comes
along with it.
This company knows what the customers want and
they deliver.While there are a lot of reasons to consider this brand,
here are some of the top ones you should think about before you spend
your hard earned money on clothes from other companies.
A lot has to dowith the name of this brand, but it’s also about the clothes.Both online and in the physical
world, there are a lot of different places to pick up clothes or
accessories that carry this name and the heritage that comes along with
it.This brand offers something just a little different – the perfect
blend of luxury, casual, and a hint of the outdoors.
as an outfitter for those who were heading into the wilderness. The
brand began to falter in the mid 19th century, but began a turnaround
when they were bought by The Limited in 1988.There are a lot of people
out there who make this their brand, buying very little from other
clothing companies.
It’s this kind of loyalty from customers that has
allowed the brand to expand so rapidly after abercrombie and fitch changing its image in the
late 80s.A lot has to do with the name of this brand, but it’s also about the
clothes.Dean is currently a student at Queen Mary University, located
in London, and is pursuing a barrister’s degree.
Riam, who was born without a forearm, abercrombie and fitch has utilized a prosthetic appendage for as long as
she can remember.REUHL is just another example long line of concepts
rolled out by established chains over the last few years that were
either closed or abandoned.
This history adds a little something extra to the
clothes in this brand. Quality is something that never goes out of
style and it shows in these clothes and accessories.A better question
might be where you can’t find this clothing brand. Both online and in
the physical world, there are a lot abercrombie and fitch of different places to pick up
clothes or accessories that carry this name and the heritage that comes
along with it.
This company knows what the customers want and
they deliver.While there are a lot of reasons to consider this brand,
here are some of the top ones you should think about before you spend
your hard earned money on clothes from other companies.
A lot has to dowith the name of this brand, but it’s also about the clothes.Both online and in the physical
world, there are a lot of different places to pick up clothes or
accessories that carry this name and the heritage that comes along with
it.This brand offers something just a little different – the perfect
blend of luxury, casual, and a hint of the outdoors.
2009年9月18日星期五
Abercrombie & Fitch Must Pay for Harassing Former Employee
abercrombie and fitch is going to need to push some extra moose-emblazoned button-downs and hoodies today.
Britain's Central London Employment Tribunal awarded former employee abercrombie and fitch Riam Dean ￡9,014 (approximately $14,696) after ruling that the clothing giant had harassed her about her prosthetic arm, reports the Daily Mail.
Dean, who worked at the abercrombie and fitch London flagship store, sued the company for discrimination against her disability, claiming bosses banished her to the stockroom rather than use her on the sales floor, and even suggested that she stay out of sight until the colder months, when employee uniforms allowed for more arm coverage.
Though the tribunal did acknowledge that abercrombie and fitch created an "adversely humiliating environment" for Dean -- who quit after just five shifts -- they did not find evidence of direct discrimination, due to the fact that all store employees must adhere to the in-house looks policy dictating appearance.
Hey, ￡9,014 could buy a ton abercrombie and fitch of rugby shirts, but something tells us Dean will take her money elsewhere.
Britain's Central London Employment Tribunal awarded former employee abercrombie and fitch Riam Dean ￡9,014 (approximately $14,696) after ruling that the clothing giant had harassed her about her prosthetic arm, reports the Daily Mail.
Dean, who worked at the abercrombie and fitch London flagship store, sued the company for discrimination against her disability, claiming bosses banished her to the stockroom rather than use her on the sales floor, and even suggested that she stay out of sight until the colder months, when employee uniforms allowed for more arm coverage.
Though the tribunal did acknowledge that abercrombie and fitch created an "adversely humiliating environment" for Dean -- who quit after just five shifts -- they did not find evidence of direct discrimination, due to the fact that all store employees must adhere to the in-house looks policy dictating appearance.
Hey, ￡9,014 could buy a ton abercrombie and fitch of rugby shirts, but something tells us Dean will take her money elsewhere.
2009年9月17日星期四
Law Student, Prosthetic Arm, Abercrombie & Fitch
We figured those three phrases alone would be enough to get you to to sit up and take notice. A law student with a prosthetic arm has won her suit for wrongful dismissal against U.S. clothing retailer abercrombie and fitch after she was ordered to work in the stockroom. Click here for the AP story.
The woman, Riam Dean (pictured), had alleged that she was removed from a London branch’s sales floor because the cardigan she wore to cover her missing left forearm violated abercrombie and fitch strict dress code. The 22-year-old testified that her manager taunted her about her disability. Ohio-based Abercrombie denied this.
A London employment trial ordered abercrombie and fitch to pay Dean about $15,000 in compensation for injured feelings, lost earnings and wrongful dismissal.
According to Dean, she was asked by a company employee if it would be possible “to keep you in the stockroom until the winter uniform arrives.” Dean then received letter saying she had been “erroneously placed on the shop floor.”
The woman, Riam Dean (pictured), had alleged that she was removed from a London branch’s sales floor because the cardigan she wore to cover her missing left forearm violated abercrombie and fitch strict dress code. The 22-year-old testified that her manager taunted her about her disability. Ohio-based Abercrombie denied this.
A London employment trial ordered abercrombie and fitch to pay Dean about $15,000 in compensation for injured feelings, lost earnings and wrongful dismissal.
According to Dean, she was asked by a company employee if it would be possible “to keep you in the stockroom until the winter uniform arrives.” Dean then received letter saying she had been “erroneously placed on the shop floor.”
2009年9月16日星期三
Abercrombie Doesn't Change
In this retail environment, where consumers selectively scour for bargains, it is tempting for retailers to reduce prices in order to drive sales and reduce inventory. One company bucking this trend is cheap abercrombie and fitch (ANF), whose stated number one priority through this downturn is to "protect the brands". By holding prices steady while competitors discount, management hopes cheap Ambercrombie emerges from the recession as a superior brand that consumers are willing to pay a premium for.
Is this a good strategy? Only time will tell. In a sense, however, it is a riskier strategy, as short-term earnings are sacrificed in exchange for a future benefit of uncertain magnitude. Same-store sales are down a staggering 30% year over year, as consumer preferences have shifted towards cheaper brands. Despite the large sales drop, inventories are running some 15% above what they were at this time last year, which is undoubtedly contributing to the fact that the company has had to increase its debt load from $43 million one year ago to its current level of $157 million.
But the company appears poised to be able to weather the economic storm. cheap abercrombie and fitch is still profitable despite the huge drop in sales thanks to its massive gross margins: buying apparel items manufactured in Asia and South America and selling them in North America for many times their cost has proven very fruitful for many companies which appeal to the fashion-conscious, and that's not likely to change.
There are risks to be aware of, however. If the recession deepens, abercrombie and fitch wholesale cost structure could prove inflexible. While we have seen that evenhealthy retailers have been able to renegotiate their leases lower, the sheer magnitude of ANF's future lease obligations ($2.8 billion, larger than the company's market cap!) cannot be ignored. Nevertheless, the company does have room to reduce prices and increase short-term profits should this happen.
Is this a good strategy? Only time will tell. In a sense, however, it is a riskier strategy, as short-term earnings are sacrificed in exchange for a future benefit of uncertain magnitude. Same-store sales are down a staggering 30% year over year, as consumer preferences have shifted towards cheaper brands. Despite the large sales drop, inventories are running some 15% above what they were at this time last year, which is undoubtedly contributing to the fact that the company has had to increase its debt load from $43 million one year ago to its current level of $157 million.
But the company appears poised to be able to weather the economic storm. cheap abercrombie and fitch is still profitable despite the huge drop in sales thanks to its massive gross margins: buying apparel items manufactured in Asia and South America and selling them in North America for many times their cost has proven very fruitful for many companies which appeal to the fashion-conscious, and that's not likely to change.
There are risks to be aware of, however. If the recession deepens, abercrombie and fitch wholesale cost structure could prove inflexible. While we have seen that evenhealthy retailers have been able to renegotiate their leases lower, the sheer magnitude of ANF's future lease obligations ($2.8 billion, larger than the company's market cap!) cannot be ignored. Nevertheless, the company does have room to reduce prices and increase short-term profits should this happen.
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