Friday, 22 September, 2017

(NYSE:ANF) has 1 year Price Target of $13.3

Abercrombie & Fitch closing 60 US stores (NYSE:ANF) has 1 year Price Target of $13.3
Mae Harvey | 04 March, 2017, 01:00

The performance for week is -2.99% and the performance for quarter is at -19.84%.

Its last month's stock price volatility remained 5.10% which for the week stands at 4.41%.

Price-to-Earnings Ratio is the current share price divided by annual earnings per share. It's planning a slate of store closures and remodels, and is investing in omnichannel capabilities across both its Abercrombie and Hollister brands. Exane Derivatives now owns 195,708 shares of the apparel retailer's stock worth $3,110,000 after buying an additional 194,853 shares in the last quarter. (NYSE:ANF) was down -2.61% (-$0.32) to $11.96 and showed a volume of 4.62 mln shares.

Net income attributable to Abercrombie & Fitch fell to $48.8 million, or 71 cents per share, in the fourth quarter, from $57.7 million, or 85 cents per share.

For the current quarter, the highest estimate analysts provided is 1.1 Billion and the lowest is 986.5 Million. Its segments include Abercrombie, which includes the Company's Abercrombie & Fitch and abercrombie kids brands, and Hollister.

Comparable store sales in the quarter advanced 4.6%. Or the fact that the Hollister number was a very pleasant surprise.

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For the past two years, Abercrombie has tried to tweak its brand to attract new shoppers. However, direct-to-consumer comps improved in both the USA and in global markets.

The gross profit rate for the fourth quarter was 59.3%. Future earnings estimates are arguably the most important input when attempting to value a firm. Apart From certain items a year ago, the gross profit rate reduced 90 basis points on a constant currency basis, mainly because of lower average unit retail, partially offset by lower average unit cost. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.20 per share. In other words, the company is adapting to the current consumer climate, which means more investment in online and less in traditional, brick-and-mortar locations. These comprised of two domestic and four global namesake stores, as well as one worldwide Hollister store. Nisa Investment Advisors LLC acquired a new stake in shares of Abercrombie & Fitch Company during the second quarter valued at approximately $178,000. Store closures comprised of 24 domestic and one global domestic store, alongside 14 domestic Hollister stores.

Though closing stores is an effective way to boost a retailer's productivity, there are drawbacks.

In fiscal 2016, the company has opened a total of 20 stores, including eight in the US and 12 internationally. BCBG plans to keep its stores open as it restructures. Mizuho's Betty Chen and Alex Pham write that Abercrombie's big move was a "short squeeze on better than feared FY17 outlook & unexpected cost cuts". This appreciation has taken its price 113.64% above the 52-week low. Analysts expected revenue of $1.05 billion for the quarter.

Operating expenses for the fiscal are estimated to witness savings of almost 3% from the operating expenses of almost $2 billion incurred in fiscal 2016.

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