March 2, 2017 / 12:48 PM / 6 months ago

BRIEF-Abercrombie & Fitch Q4 GAAP earnings per share $0.71

March 2 (Reuters) - Abercrombie & Fitch Co

* Abercrombie & Fitch Co reports fourth quarter results

* Q4 GAAP earnings per share $0.71

* Q4 sales $1.036 billion versus I/B/E/S view $1.05 billion

* Q4 earnings per share view $0.75 -- Thomson Reuters I/B/E/S

* Abercrombie & Fitch Co says qtrly comparable sales for Q4 down 5%

* Abercrombie & Fitch Co says "results for quarter reflect a still challenging and competitive retail environment"

* Abercrombie & Fitch Co says "environment is likely to remain challenging in 2017"

* Abercrombie & Fitch Co says company is targeting capital expenditures to be approximately $100 million for fiscal 2017

* Abercrombie & Fitch Co says "comparable sales to improve for full year, but to remain challenging for first half" in 2017

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

* Abercrombie & Fitch Co says competitive environment resulted in more promotional activity and a lower gross margin rate than planned in quarter

* Abercrombie & Fitch Co says actions already taken to reduce expense by approximately $100 million in 2017

* Abercrombie & Fitch Co says Q4 Abercrombie comparable sales down 13%

* Abercrombie & Fitch Co says retail environment is likely to remain "challenging" in 2017

* Abercrombie & Fitch says expects to incur non-cash income tax charge of about $9 million in Q1 due to change in share-based compensation accounting standards

* Abercrombie & Fitch says Q4 Hollister comparable sales up 1%

* Abercrombie & Fitch says effect of changes in foreign currency exchange rates on y-o-y basis adversely impacted Q4 results by about $0.05 per share

* Abercrombie & Fitch says sees adverse effects from foreign currency on sales and operating income of approximately $55 million and $25 million, respectively in 2017

* Plans to open six full-price stores in fiscal 2017, including four in U.S. and two in international markets

* Company anticipates closing approximately 60 stores in U.S. during fiscal year through natural lease expirations Source text for Eikon: Further company coverage:

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