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BRIEF-Abercrombie & Fitch Q1 loss per share $0.91
May 25, 2017 / 11:45 AM / 4 months ago

BRIEF-Abercrombie & Fitch Q1 loss per share $0.91

May 25 (Reuters) - Abercrombie & Fitch Co:

* Abercrombie & Fitch Co reports first quarter results

* Q1 loss per share $0.91

* Q1 sales $661.1 million versus I/B/E/S view $651.3 million

* Q1 earnings per share view $-0.70 -- Thomson Reuters I/B/E/S

* Abercrombie & Fitch Co -comparable sales to remain challenging in Q2, with trend improvement in second half of year

* Qtrly Abercrombie comparable sales down 10 percent

* Abercrombie & Fitch Co sees continued adverse impact from foreign currency on sales and operating income for 2017

* Qtrly Hollister comparable sales up 3 percent

* Abercrombie & Fitch Co sees net income attributable to noncontrolling interests of approximately $4 million for 2017

* Abercrombie & Fitch Co says expect results to improve further in second half of the year

* Abercrombie & Fitch Co qtrly comparable sales for Q1 down 3 percent

* Abercrombie & Fitch - company plans to open seven full-price stores in fiscal 2017, primarily in U.S. Company also plans to open two new outlet stores

* Sees company expects capital expenditures to be approximately $100 million for full year 2017

* Abercrombie & Fitch -company anticipates closing approximately 60 stores in U.S. during fiscal year through natural lease expirations

* Abercrombie & Fitch Co sees for fiscal 2017, gross margin rate down slightly to last year’s adjusted non-gaap rate of 61.0%,with continued pressure in Q2

* Says “we continue to tightly manage costs and inventory” Source text for Eikon: Further company coverage:

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