Edition:
India

Abercrombie & Fitch Reports Q3 Adj Non-GAAP EPS Of $0.33 Excluding Items


Thursday, 29 Nov 2018 

Nov 29 (Reuters) - Abercrombie & Fitch Co ::. REPORTS THIRD QUARTER RESULTS.Q3 GAAP EARNINGS PER SHARE $0.35.Q3 SALES $861 MILLION VERSUS REFINITIV IBES ESTIMATE OF $853 MILLION.Q3 EARNINGS PER SHARE ESTIMATE $0.20 -- REFINITIV IBES DATA.Q3 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.33 EXCLUDING ITEMS.SEES FY 2018 SALES UP 2 TO 4 PERCENT.QTRLY COMPARABLE SALES GROWTH OF 3%, ON TOP OF 4% LAST YEAR.REMAINS ON TRACK TO DELIVER TOP-LINE GROWTH, GROSS PROFIT RATE EXPANSION AND OPERATING EXPENSE LEVERAGE FOR FULL YEAR.ENDED Q3 WITH $572.2 MILLION IN INVENTORY, APPROXIMATELY FLAT TO LAST YEAR..SEES Q4 COMPARABLE SALES TO BE UP LOW SINGLE DIGITS.SEES FY 2018 COMPARABLE SALES TO BE UP IN RANGE OF 2% TO 4%.ENDED Q3 WITH $572.2 MILLION IN INVENTORY, APPROXIMATELY FLAT TO LAST YEAR.FOR FISCAL 2018, EXPECTS CAPITAL EXPENDITURES TO NOW BE APPROXIMATELY $145 MILLION.EXPECTS TO CLOSE FEWER STORES IN THE CURRENT YEAR BASED ON IMPROVED PERFORMANCE AND SUCCESSFUL LEASE RENEGOTIATIONS.QTRLY HOLLISTER COMPARABLE SALES UP 4 PERCENT, ABERCROMBIE COMPARABLE SALES UP 1 PERCENT.SEES CLOSING UP TO 40 STORES BY YEAR-END, PRIMARILY IN THE U.S., DOWN FROM PREVIOUS EXPECTATIONS OF CLOSING UP TO 60 STORES.FY REVENUE VIEW $3.56 BILLION -- REFINITIV IBES DATA.