Abercrombie & Fitch Posts Wider Loss In Q1; Net Sales Down 34%

(RTTNews) - Abercrombie & Fitch Co. (ANF) reported a first quarter adjusted non-GAAP loss per share of $3.29 compared to a loss of $0.29, previous year. On average, 13 analysts polled by Thomson Reuters expected the company to report a loss per share of $1.26, for the quarter. Analysts' estimates typically exclude special items. The company recorded a net loss per share of $3.90 for the quarter, reflecting adverse tax impacts of $1.45 related to valuation allowances on deferred tax assets and other tax charges and $0.62 related to asset impairment charges.

First quarter total company net sales declined 34 percent to $485.36 million. Analysts expected revenue of $536.99 million for the quarter.