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Stock Market & Financial Investment News

News Breaks
May 29, 2014
15:25 EDTARO, AEO, URBN, ANFAbercrombie rises after sales beat, guidance backed
Shares of casual apparel retailer Abercrombie & Fitch (ANF) are rising after the company reported better than expected first quarter sales and backed its fiscal year profit outlook. WHAT'S NEW: Abercrombie & Fitch reported a Q1 adjusted loss per share of (17c), which was not as steep as the consensus prediction of (19c) per share. The retailer reported Q1 revenue of $822M, which exceeded the $798.2M consensus expectation. Comparable sales by brand, including direct-to-consumer, decreased 1% for Abercrombie & Fitch, decreased 6% for Abercrombie kids, and decreased 7% for Hollister. The company maintained its guidance of FY14 EPS in the range of $2.15-$2.35, which included the effect of its Q1 accelerated share repurchase. The guidance is based on the assumption that full year comparable sales will be down 3% to 4%, the company said. WHAT'S NOTABLE: During the company's Q1 earnings conference call, A&F said that it sees FY gross margin to be down slightly compared to the same period last year. Abercrombie & Fitch expects to open 15 full-price international stores throughout the year and approximately 8-10 international and U.S. outlet stores. The company continues to expect to close approximately 60-70 stores in the U.S. during the year through natural lease expirations. The retailer also noted that a search is underway for Abercrombie and Hollister brand presidents. ANALYST REACTION: Brean Capital analyst Eric Beder wrote in a note to investors that he believes Abercrombie & Fitch's maintained guidance remains conservative and that management made progress on several fronts during the quarter. Abercrombie surpassed "gloomy" Street projections and management has commenced the necessary steps to improve returns and come back to relevance in a "very difficult teen space," Beder wrote. The firm reiterated its Buy rating and $50 price target on the stock. OTHERS TO WATCH: Rivals to Abercrombie & Fitch include Aeropostale (ARO), Urban Outfitters (URBN), and American Eagle Outfitters (AEO). PRICE ACTION: During late afternoon trading, shares of Abercrombie & Fitch rose $2.07 or 5.9%, to $37.19.
News For ANF;AEO;ARO;URBN From The Last 14 Days
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January 21, 2015
11:23 EDTANFSnow Capital reports 5.1% passive stake in Abercrombie & Fitch
January 13, 2015
08:43 EDTAEOAmerican Eagle has reached positive turning point, says BMO Capital
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January 12, 2015
10:58 EDTAEOAmerican Eagle says expects to end year with cash around $400M
10:40 EDTAEOAmerican Eagle repeats Q4 EPS view 32c-34c, 25% growth vs. last year's Q4
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09:19 EDTURBNMorgan Stanley events at 17th Annual ICR XChange Conference
Company Meetings to be held at the 17th Annual ICR XChange Conference in Orlando, Florida on January 12-13.

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