Abercrombie & Fitch reports ‍comparable sales for Q3 up 4 pct

Friday, 17 Nov 2017 

Nov 17 (Reuters) - Abercrombie & Fitch Co :Reg-Abercrombie & Fitch Co. reports third quarter results.Q3 adjusted non-GAAP earnings per share $0.30 excluding items.Q3 GAAP earnings per share $0.15.Q3 sales $859.1 million versus I/B/E/S view $818.9 million.Q3 earnings per share view $0.22 -- Thomson Reuters I/B/E/S.Abercrombie & Fitch Co - ‍Comparable sales for Q3 up 4%​.Abercrombie & Fitch Co sees ‍ Q4 comparable sales to be up low-single digits, and net sales to be up mid- to high-single digits​.Abercrombie & Fitch Co - ‍Now expects capital expenditures to be approximately $110 million for full year​.Abercrombie & Fitch Co - Qtrly hollister comparable sales rose 8 percent.Abercrombie & Fitch Co sees ‍changes in foreign currency exchange rates to benefit net sales in Q4 by approximately $20 million.Abercrombie & Fitch Co sees ‍changes in foreign currency exchange rates to benefit operating income by approximately $5 million, net of hedging in Q4​.Abercrombie & Fitch Co - ‍Ended Q3 with $570.5 million in inventory, an increase of 11% over last year​.Abercrombie & Fitch Co - Qtrly Abercrombie comparable sales fell 2 percent.Abercrombie & Fitch Co - ‍Anticipates closing up to 60 stores in U.S. by year-end through natural lease expirations, including 14 stores closed to date​.Abercrombie & Fitch Co - "‍Abercrombie is beginning to show signs of stabilization"​.