A&F's Two Quarter Revenue Is Expected To Reduce Annual Sales Target.

　　 U.S.A Youth apparel retailer Abercrombie & Fitch Co. (NYSE: ANF) posted a two quarter earnings forecast against analysts before its US stock offering on Thursday, sending its share price plunge by more than 10%.

In the two quarter ended August 2nd, Abercrombie & Fitch Co. (NYSE: ANF) net profit rose 13.2% to $12 million 900 thousand, up from last year. Synchronization For $11 million 400 thousand, diluted earnings per share rose to $0.17 from $0.14 a year ago, adjusted earnings per share amounted to $0.19, far exceeding analysts' expectations of $0.11. But net income fell by 5.8% to 891 million dollars a year, less than the analyst forecast of $909 million 800 thousand.

Overall sales in the same quarter decreased by 7% in the two quarter compared with the same period last year, far less than analysts expected 4.1% and ten consecutive quarters of decline. Among them, the Abercrombie & Fitch brand declined slightly by 1%, while Abercrombie Kids and Hollister Co. fell by 6% and 10% respectively. By region, the same store sales in the US and the international market decreased by 5% and 9% respectively.

Abercrombie & Fitch Co. (NYSE: ANF) CEO Mike Jeffries pointed out in the earnings report that the two quarter sales were under the original plan, but since Return to school There has been signs of improvement since the beginning of the season. However, the group continued to forecast the same store sales decline throughout the year from the former 3%-4% to 4%-6%, and expects to close 60 stores in the current financial year. The expected annual earnings per share remained at 2.15-2.35 US dollars, and analysts forecast $2.36.