Research Desk Line-up: Cato Corp. Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Abercrombie & Fitch Co. (NYSE: ANF), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=ANF, following the Company's reporting of its financial results on August 24, 2017, for the second quarter of the fiscal year 2017. The Company's Hollister segment's revenue increased 6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
Get more of our free earnings reports coverage from other constituents of the Apparel Stores industry. Pro-TD has currently selected The Cato Corporation (NYSE: CATO) for due-diligence and potential coverage as the Company reported on August 17, 2017, its financial results for Q2 which ended on July 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on Cato Corp. when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ANF; also brushing on CATO. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=ANF
http://protraderdaily.com/optin/'symbol=CATO
Earnings Reviewed
For the three months ended July 29, 2017, Abercrombie & Fitch's net revenue decreased 49 basis points to $779.32 million from $783.16 million in Q2 FY16. The net revenue surpassed analysts' expectations of $761.60 million.
For the reported quarter, Abercrombie & Fitch's Hollister segment's revenue increased 6% to $446.60 million on a y-o-y basis, and Abercrombie segment's revenue declined 8% to $332.70 million on a y-o-y basis. During Q2 FY17, the Company's comparable sale growth was negative 1% compared to a negative growth of 4% in Q2 FY16.
During Q2 FY17, Abercrombie & Fitch's gross profit decreased 3.4% to $460.90 million from $477.11 million in Q2 FY16. During Q2 FY17, the Company's gross margin decreased 180 basis points to 59.1% of revenue from 60.9% of revenue in Q2 FY16.
For the reported quarter, the Company's marketing, general, and administrative expenses (MG&A) decreased 30 basis points to 14% of revenue from 14.3% of revenue in Q2 FY16. During Q2 FY17, Abercrombie & Fitch's S&D expenses decreased 150 basis points to 47.4% of revenue from 48.9% of revenue in Q2 FY16.
For the reported quarter, the Company's operating loss was $21.09 million compared to operating loss of $10.81 million in Q2 FY16. During Q2 FY17, Abercrombie & Fitch's interest expenses decreased 13.7% to $4.09 million from $4.74 million in Q2 FY16.
During Q2 FY17, Abercrombie & Fitch's net loss was $15.49 million compared to a net loss of $13.13 million in Q2 FY16. For the reported quarter, the Company's adjusted net loss was $10.97 million compared to an adjusted net loss of $16.81 million in Q2 FY16. During Q2 FY17, Abercrombie & Fitch's diluted earnings per share (EPS) was negative $0.23 compared to negative $0.19 in Q2 FY16. For the reported quarter, the Company's adjusted diluted EPS was negative $0.16 compared to negative adjusted diluted EPS of $0.25 in Q2 FY16. The adjusted diluted EPS surpassed analysts' expectations of negative $0.34.
On August 17, 2017, Abercrombie & Fitch's Board of Directors declared a cash dividend of $0.20 per share on its common stock, payable on September 11, 2017, to stockholders of record at the close of business on September 01, 2017.
On September 06, 2017, the Company appointed Scott D. Lipesky as Senior Vice President and Chief Financial Officer, effective on October 02, 2017.
Balance Sheet
As on July 29, 2017, Abercrombie & Fitch's cash and cash equivalents decreased 7.4% to $421.90 million from $455.61 million in Q2 FY16.
During Q2 FY17, Abercrombie & Fitch's receivables increased 40.0% to $110.59 million from $79.01 million in Q2 FY16.
For the reported quarter, the Company's net inventories increased 3.9% to $471.04 million from $453.18 million in Q2 FY16.
During Q2 FY17, Abercrombie & Fitch's accounts payable increased 15.3% to $208.43 million from $180.83 million in Q2 FY16.
During Q2 FY17, Abercrombie & Fitch's net long-term debt was $263.71 million compared to $285.53 million in Q2 FY16.
Stock Performance
On Thursday, September 14, 2017, the stock closed the trading session at $14.06, slightly up 0.72% from its previous closing price of $13.96. A total volume of 2.34 million shares have exchanged hands. Abercrombie & Fitch's stock price soared 50.05% in the last one month, 12.21% in the past three months, and 16.58% in the previous six months. Furthermore, since the start of the year, shares of the Company have surged 17.17%. The stock has a dividend yield of 5.69% and currently has a market cap of $965.78 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
