Abercrombie & Fitch Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Abercrombie & Fitch Co. (ANF) reported a second-quarter net loss of $0.8 million and net loss per share of $0.01, compared to net income of $12.9 million and net income per share of $0.17, prior year. Excluding certain items, the company reported an adjusted net income of $8.6 million and net income per share of $0.12 for the second quarter.

On average, 31 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.04 for the quarter. Analysts' estimates typically exclude special items.

Net sales decreased 8% to $817.8 million from last year, which included a comparable sales decline of 4% and an adverse impact from changes in foreign currency exchange rates of approximately 5%. Analysts expected revenue of $811.46 million for the quarter.

With regard to the second-half of its fiscal 2015, the company expects further comparable sales trend improvement, skewed towards the fourth quarter. The company expects an elevated tax rate on a full year basis, which remains highly sensitive to earnings mix by jurisdiction.

The company said it plans to open 15 full-price stores in fiscal 2015 in the key growth markets of China, Japan and the Middle East, six full price stores in North America and ten new outlet stores in the U.S. The company anticipates closing approximately 60 stores in the U.S. during the fiscal year through natural lease expirations.