A&F Exceeds Expected Price Rises In The First Quarter, Brand Enters ASOS

< p > US youth apparel retailer Abercrombie & Fitch Co. (NYSE:ANF) issued a quarterly earnings report, ending the first quarter of May 3, 2014, a net loss of $23 million 671 thousand, plus a loss of $0.32 per share, excluding Gilly Hicks brand restructuring and other expenses, adjusted net loss of $12 million 979 thousand, plus a loss of $0.17 per share, better than analysts' average expected loss of $0.19 per share, Abercrombie Abercrombie Fitch Co. (NYSE:ANF) share price rose sharply, up to 7.5%.

< /p >

In the first quarter of P, the overall sales of Abercrombie & Fitch Co. fell 2% to 822 million 400 thousand US dollars, compared with 838 million 800 thousand US dollars in the same period last year, and the same store sales fell 4%.

According to brand Abercrombie & Fitch, the income of US $317 million 800 thousand was 2.2% lower than that of US $325 million in the same period last year, while sales in the same store decreased by 1%; Abercrombie kids income was 68 million 500 thousand US dollars, down 6.2% from the 73 million US dollars in the same period last year, while sales in the same store decreased by 6%; Hollister Co. earned 421 million 600 thousand US dollars, which was basically flat compared with 421 million 200 thousand dollars in the same period last year, while sales in the same store dropped by 7%.

By region, the US market income fell 6% to 504 million dollars, less than a href= "http://www.91se91.com/news/index_c.asp" > international market < /a > revenue rose 5% to 318 million dollars.

< /p >

Mike Jeffries, chief executive officer of P > Abercrombie & Fitch Co., said that although the youth clothing market was beset with difficulties, the group achieved satisfactory results in the first quarter. Mike Jeffries said that women's clothing business has improved, while Abercrombie Fitch has also improved, and the performance of the direct channel has also satisfied the group.

< /p >

< p > at the analyst conference call, < a href= "http://www.91se91.com/news/index_c.asp" > Mike Jeffries < /a > Abercrombie / Fitch will start selling on the British electricity supplier ASOS PLC (Fitch) from this holiday season, while the brand is also being considered.

< /p >

< p > Abercrombie & Fitch Co. < a href= "http://www.91se91.com/news/index_c.asp" > direct channel < /a > overall growth of 27% in the first quarter, of which 22% in the US market and 37% in the international market.

< /p >

< p > the first quarter Abercrombie & Fitch Co. gross profit margin was 62.2%, a larger decrease of 370 basis points compared with the same period last year, mainly affected by processing stocks and promotions.

< /p >

< p > Abercrombie & Fitch Co. expects EPS of US $2.15 to US $2.35 in fiscal year 2015, which is basically consistent with analysts' average forecast of US $2.34, and the gross profit margin is expected to be slightly below the level of the 2013 fiscal year.

The group also said that it will add 15 new stores in the financial year, all in the international market, including a small number of Abercrombie & Fitch brands located in the store outlets of department stores, and 8-10 new discount stores.

Abercrombie & Fitch Co. will continue to implement the customs clearance strategy, which is expected to close 60-70 stores in the US market.

< /p >