An analyst on Monday upgraded apparel retailers Gap Inc. and abercrombie and fitch., citing expectations of future improvement despite anticipating weak July same-store sales from most retailers when they report on Thursday.
Barclays Capital analyst Jeff Black forecast sales in stores open at least one year, a key retail metric known as same-store sales, will fall 5.2 percent for the industry overall in July. That compares to a 5.1 percent drop in June.
"We expect July sales to come in worse than the previous month in part because 10 states have shifted their tax-free shopping periods to later in August," Black wrote in a note to investors. That could hurt same-store sales by as much as 2 percentage points, he estimated.
abercrombie and fitch has reported weak same-store sales over the past year as it has stuck to relatively high price points amid the recession. Black said it should see its same-store sales improve, although he still predicts a 23 percent drop, as shoppers pick up back-to-school items.
Results should be helped by improved results at the chain's surf-themed Hollister offshoot, Black said.
Longer term, Black said he expects abercrombie and fitch should begin to get more revenue from international flagship stores beginning in the fourth quarter. Also, lower cost-of-goods in 2010 should help the company lower opening price points, Black said. He upgraded the stock to "overweight" from "equal weight."
He also upgraded Gap to "overweight" from "equal weight," based on merchandise improvement and likely improvement at its Old Navy stores by abercrombie and fitch the December holiday season.
He expects same-store sales to fall 8 percent in July, helped by better results from Old Navy.
Gap shares rose 88 cents, or 5.4 percent, to close at $17.20 on Monday. Shares have traded between $9.41 and $20.80 during the past 52 weeks.
abercrombie and fitch shares rose $1.47, or 5.1 percent, to $30.06. The stock has traded between $9.41 and $20.80 over the past year.
2009年9月23日星期三
2009年9月22日星期二
Abercrombie & Fitch Fined For Discriminating Against Autistic Shopper
The PR geniuses at abercrombie and fitch are in the news again for refusing to let a 14-year old autistic
shopper have help trying on clothes. The Minnesota Department of Human abercrombie and fitch Rights has fined the company $115,264
for discriminating against a person with a abercrombie and fitch disability.
Hm. This sure sounds familiar.
The injured parties abercrombie and fitch include Molly Maxon, who has autism, and her older sister. When the two tried to enter a
fitting room together so that the sister abercrombie and fitch could help Molly try on clothes, an A&F employee refused to let
them, citing a store policy to prevent shoplifting.
shopper have help trying on clothes. The Minnesota Department of Human abercrombie and fitch Rights has fined the company $115,264
for discriminating against a person with a abercrombie and fitch disability.
Hm. This sure sounds familiar.
The injured parties abercrombie and fitch include Molly Maxon, who has autism, and her older sister. When the two tried to enter a
fitting room together so that the sister abercrombie and fitch could help Molly try on clothes, an A&F employee refused to let
them, citing a store policy to prevent shoplifting.
2009年9月21日星期一
Abercrombie & Fitch food in the United State
By the mid-1990s, there were dozens of abercrombie and fitch food in the United States. On September 26, 1996, The Limited, Inc. took abercrombie and fitc accessible on the New York Stock Exchange with the ticker attribute “ANF” and with the per allotment alms as $16. In backward 1990s, the aggregation began to opt architecture food alone averaging amid 8,000 to 20,000 aboveboard anxiety (700 to 2,000 m2) in high-volume retail centers about the country. It aswell launched the canoe abundance ancestor of white bluff and autogenous gray walls to board the advance of its brand.
In 1997, abercrombie and fitch launched A&F Quarterly. The advertisement included photography, account beach online writing about sex, pop culture, and added boyhood interests. In 1998, the aggregation alien its aboriginal subsidiary, abercrombie and fitch. The abstraction was advised as the abercrombie & Fitch for a adolescent audience amid the ages on 7-14. In 1999 began a 3-year-long chic activity accusation in which abercrombie and fitch was one of several American retailers complex for its sweatshops in Saipan. Revenue recorded for Abercrombie & Fitch at the end of budgetary 1998 was at $805.2 actor USD. By 1998, Abercrombie & Fitch went became an absolute company, and Mike Jeffries affected the position of Chairman and Chief Executive Officer.[16] As the cast regained its prominence, industry analysts began to brainstorm how continued Abercrombie and Fitch would be able to absorb its popularity.
In 1997, abercrombie and fitch launched A&F Quarterly. The advertisement included photography, account beach online writing about sex, pop culture, and added boyhood interests. In 1998, the aggregation alien its aboriginal subsidiary, abercrombie and fitch. The abstraction was advised as the abercrombie & Fitch for a adolescent audience amid the ages on 7-14. In 1999 began a 3-year-long chic activity accusation in which abercrombie and fitch was one of several American retailers complex for its sweatshops in Saipan. Revenue recorded for Abercrombie & Fitch at the end of budgetary 1998 was at $805.2 actor USD. By 1998, Abercrombie & Fitch went became an absolute company, and Mike Jeffries affected the position of Chairman and Chief Executive Officer.[16] As the cast regained its prominence, industry analysts began to brainstorm how continued Abercrombie and Fitch would be able to absorb its popularity.
2009年9月20日星期日
Abercrombie & Fitch recently announced
A&F has never been a stranger to discrimination suits; abercrombie and fitch one was recently settled in the US for discrimination during the hiring process in that they would allegedly only hire “young and beautiful” men and women to work in their stores.
abercrombie and fitch recently announced it will pull the plug on its RUEHL chain, a concept with 29 stores in high-profile malls across the country that targeted well-heeled consumers in their 20s. abercrombie and fitch blamed “the severe economic downturn” for sinking the stores, which launched in 2004, generating an operating loss of $58 million during the company’s prior fiscal year.
But maybe it’s not just the economy’s fault in this case. abercrombie and fitch 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. The lesson here is that some of these retailers might be better off sticking to their core concepts abercrombie and fitch instead of pushing ever more demographic-specific options out to the consumer.
abercrombie and fitch recently announced it will pull the plug on its RUEHL chain, a concept with 29 stores in high-profile malls across the country that targeted well-heeled consumers in their 20s. abercrombie and fitch blamed “the severe economic downturn” for sinking the stores, which launched in 2004, generating an operating loss of $58 million during the company’s prior fiscal year.
But maybe it’s not just the economy’s fault in this case. abercrombie and fitch 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. The lesson here is that some of these retailers might be better off sticking to their core concepts abercrombie and fitch instead of pushing ever more demographic-specific options out to the consumer.
2009年9月18日星期五
(ANF) Abercrombie & Fitch Disappoints – net sales of the company during the quarter decreased 23%
abercrombie and fitch. (ANF), a leading international specialty retailer, reported disappointing second quarter results with a net loss of $26.7 million or -30 cents per share compared to a net income of $77.8 million or 87 cents per share in the year-earlier quarter.
The year-over-year decline in results was primarily due to the continued economic downturn plaguing the industry that has resulted in reduced consumer discretionary income and a cut in non-essential spending.
Overall net sales of the company during the quarter decreased 23% to $648.5 million from $845.8 million in the year-ago quarter. Total company direct-to-consumer net sales decreased 13% year-over-year to $48.7 million, while overall comparable store sales decreased 30%.
Gross profit rate during the quarter decreased 360 basis points year-over-year due to a higher markdown rate. abercrombie and fitch was able to reduce its stores and distribution expense (as a percentage of sales) through savings in store payroll, and reduction in direct-to-consumer and other variable expenses. The marketing, general and administrative expenses also decreased during the quarter from $109.0 million to $88.7 million due to savings related to employee compensation and benefits, and cut in travel and outside services.
However, the rate of sales decline of the company was much higher than the reduction in expenses. Furthermore, Abercrombie witnessed an increase in rents, depreciation and lease termination costs related to the exit of RUEHL branded stores.
During the quarter, the management approved the closure of 29 RUEHL branded stores and associated direct-to-consumer operations. abercrombie and fitch incurred $23.6 million of pre-tax charges during the quarter to exit RUEHL, along with an impairment charge of $0.8 million. The company expects to complete the closure by the end of fiscal 2009.
At quarter end, abercrombie and fitch had $366.5 million of cash and cash equivalents along with outstanding debt and letters of credit of $79.6 million. The company repaid $100 million of US dollar-denominated outstanding debt, and obtained approximately $37 million in foreign currency denominated borrowings to fund its international lease and capital expenditures.
During the quarter, the company opened its first Epic Hollister flagship store in New York, two Hollister mall-based stores in the UK, and one Abercrombie store in the US. Abercrombie mulls opening nine mall-based stores in fiscal 2009 in the US, which includes two Abercrombie stores, four Hollister stores, one Gilly Hicks store, and two outlet stores. Internationally, the company intends to open 10 mall-based stores in the current fiscal year, including one Abercrombie store in Canada, one Hollister store each in Germany and Italy, and seven Hollister stores in the UK.
abercrombie and fitch has reduced its earlier capital expenditures projection for fiscal 2009 from $200 million to $185 million, due to lower-than-expected construction costs and the reduction and deferment of non-essential projects related to existing stores.
The year-over-year decline in results was primarily due to the continued economic downturn plaguing the industry that has resulted in reduced consumer discretionary income and a cut in non-essential spending.
Overall net sales of the company during the quarter decreased 23% to $648.5 million from $845.8 million in the year-ago quarter. Total company direct-to-consumer net sales decreased 13% year-over-year to $48.7 million, while overall comparable store sales decreased 30%.
Gross profit rate during the quarter decreased 360 basis points year-over-year due to a higher markdown rate. abercrombie and fitch was able to reduce its stores and distribution expense (as a percentage of sales) through savings in store payroll, and reduction in direct-to-consumer and other variable expenses. The marketing, general and administrative expenses also decreased during the quarter from $109.0 million to $88.7 million due to savings related to employee compensation and benefits, and cut in travel and outside services.
However, the rate of sales decline of the company was much higher than the reduction in expenses. Furthermore, Abercrombie witnessed an increase in rents, depreciation and lease termination costs related to the exit of RUEHL branded stores.
During the quarter, the management approved the closure of 29 RUEHL branded stores and associated direct-to-consumer operations. abercrombie and fitch incurred $23.6 million of pre-tax charges during the quarter to exit RUEHL, along with an impairment charge of $0.8 million. The company expects to complete the closure by the end of fiscal 2009.
At quarter end, abercrombie and fitch had $366.5 million of cash and cash equivalents along with outstanding debt and letters of credit of $79.6 million. The company repaid $100 million of US dollar-denominated outstanding debt, and obtained approximately $37 million in foreign currency denominated borrowings to fund its international lease and capital expenditures.
During the quarter, the company opened its first Epic Hollister flagship store in New York, two Hollister mall-based stores in the UK, and one Abercrombie store in the US. Abercrombie mulls opening nine mall-based stores in fiscal 2009 in the US, which includes two Abercrombie stores, four Hollister stores, one Gilly Hicks store, and two outlet stores. Internationally, the company intends to open 10 mall-based stores in the current fiscal year, including one Abercrombie store in Canada, one Hollister store each in Germany and Italy, and seven Hollister stores in the UK.
abercrombie and fitch has reduced its earlier capital expenditures projection for fiscal 2009 from $200 million to $185 million, due to lower-than-expected construction costs and the reduction and deferment of non-essential projects related to existing stores.
2009年9月17日星期四
Abercrombie and Fitch lifestyle
abercrombie and fitch is not a lifestyle! It is an illusion of one. You're being sold to, and taken for a fool because of how cheaply made their clothes are. They're acutally making you think that ripped jeans are worth paying over $100 for?
If people want a casual lifestyle, then stop obsessing over clothes, and how you look. Don't worry about it, most people look fine. It's only when we compare ourselves to abercrombie and fitch others, when we feel bad!
abercrombie and fitch in in just about every mall in the nation, and now they're all over the world. Our country has a huge obesity epidemic on its hands, and our teenagers are being marketed to by these people to think that they need to live up to this ideal of beauty that they portray.
abercrombie and fitch is not a lifestyle, it's a business. People on the East Coast, want the West Coast style, etc- so they sell it to you in paper thin shirts that rip and shrink and jeans with holes in them. In reality...nobody really dresses like that, abercrombie and fitch and you end up walking around looking like a carbon copy of everyone else who has bought into the hype!
If people want a casual lifestyle, then stop obsessing over clothes, and how you look. Don't worry about it, most people look fine. It's only when we compare ourselves to abercrombie and fitch others, when we feel bad!
abercrombie and fitch in in just about every mall in the nation, and now they're all over the world. Our country has a huge obesity epidemic on its hands, and our teenagers are being marketed to by these people to think that they need to live up to this ideal of beauty that they portray.
abercrombie and fitch is not a lifestyle, it's a business. People on the East Coast, want the West Coast style, etc- so they sell it to you in paper thin shirts that rip and shrink and jeans with holes in them. In reality...nobody really dresses like that, abercrombie and fitch and you end up walking around looking like a carbon copy of everyone else who has bought into the hype!
2009年9月16日星期三
Abercrombie & Fitch Posts Q2 Loss on Charges, Sales Decline (ANF)
Teen clothing retailer abercrombie and fitch. (ANF) on Friday said that it lost $26.7 million in the second quarter, hurt by lower sales and charges related to shutting its ill-conceived Ruehl stores brand.
The New Albany, Ohio-based company reported a second quarter net loss of $26.7 million, or 30 cents per share, compared with a profit of $77.8 million, or 87 cents per share, in the year-ago period. The latest results included $24.4 million in abercrombie and fitch special charges.
Sales fell 23% from last year to $648.5 million.
On average, Wall Street analysts expected a loss of 7 cents per share, excluding special items.
Same-store sales, perhaps the most telling metric for retailers, plunged 30% from last year. Same-store sales are considered a key indicator of a retailer’s health, since they measure the performance of stores open at least one year.
In order to combat the lower sales of its relatively-high priced merchandise amid the recession, abercrombie and fitch cut its marketing, general, and administrative costs by 19% in the quarter.
abercrombie and fitch shares rose $1.03, or +3.1%, in morning trading Friday.
The Bottom Line
We have been avoiding shares of ANF since our early June coverage began, and the stock was trading at $67.37. The company has a dividend yield of 2.12%, based on last night’s closing stock price of $32.96. The stock has technical support in the $25-$27 price area. If the shares can continue the recent run, we see overhead resistance around the $36 price level. We would remain on the sidelines for now.
abercrombie and fitch . (ANF) is not recommended at this time, holding a Dividend.com DARS? Rating of 3.2 out of 5 stars.
The New Albany, Ohio-based company reported a second quarter net loss of $26.7 million, or 30 cents per share, compared with a profit of $77.8 million, or 87 cents per share, in the year-ago period. The latest results included $24.4 million in abercrombie and fitch special charges.
Sales fell 23% from last year to $648.5 million.
On average, Wall Street analysts expected a loss of 7 cents per share, excluding special items.
Same-store sales, perhaps the most telling metric for retailers, plunged 30% from last year. Same-store sales are considered a key indicator of a retailer’s health, since they measure the performance of stores open at least one year.
In order to combat the lower sales of its relatively-high priced merchandise amid the recession, abercrombie and fitch cut its marketing, general, and administrative costs by 19% in the quarter.
abercrombie and fitch shares rose $1.03, or +3.1%, in morning trading Friday.
The Bottom Line
We have been avoiding shares of ANF since our early June coverage began, and the stock was trading at $67.37. The company has a dividend yield of 2.12%, based on last night’s closing stock price of $32.96. The stock has technical support in the $25-$27 price area. If the shares can continue the recent run, we see overhead resistance around the $36 price level. We would remain on the sidelines for now.
abercrombie and fitch . (ANF) is not recommended at this time, holding a Dividend.com DARS? Rating of 3.2 out of 5 stars.
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