US Youth Apparel Group A&F Slumped In The Three Quarter And Plunged In Share Prices

The US youth apparel group Abercrombie & Fitch Co. (NYSE: ANF) recently updated its three quarter forecast, saying sales fell 12% in the three quarter of November, down from 1 billion 33 million US dollars in the same period last year to 911 million 400 thousand US dollars, and the expected earnings per share were 0.40 US dollars and -0.42 dollars, and two data were lower than Tang Sen's Reuters analyst's expected 982 million 200 thousand dollars and 0.67 dollars. The news led to a sharp fall in the stock market on Friday. As of the time, 12:20PM dropped 14.05% at 30.41 U.S. dollars.

Abercrombie & Fitch Co. Expect Same store sales fell 10%, of which 7% in the US market and 15% in the international market, with 8% growth in direct outlets. The same store sales decline is mainly affected by the weather in 9 and October, while the international market is more difficult, which will also affect the gross profit margin of the group this season.

Abercrombie & Fitch Co. Chief executive officer Mike Jeffries said that the flow of shops continued to be weak and hit sales, especially the European market showing signs of slowing down. Moreover, the unsalable sales of Logo products were the reasons for the disappointing three quarter results.

According to the brand, Hollister brand Europe is weak, Abercrombie & Fitch overall performance is not good, sales of jacket are still difficult, especially woolen sweater and men's T-shirt. insufficient To offset the positive trend of denim and skirt.