WASHINGTON (dpa-AFX) - (Adds outlook; share movement)
Below are the earnings highlights for Abercrombie & Fitch Co. (ANF):
Earnings: -$16.83 million in Q2 vs. $108.50 million in the same period last year. EPS: -$0.33 in Q2 vs. $1.69 in the same period last year.
Excluding items, Abercrombie & Fitch Co. reported adjusted earnings of -$15.27 million or -$0.30 per share for the period.
Analysts projected $0.22 per share Revenue: $805.09 million in Q2 vs. $864.85 million in the same period last year.
Outlook:
Looking ahead, for the third quarter, the company expects its net sales to be down high-single-digits to $905 million of fiscal third quarter 2021. The company cited inflationary impact on consumer demand.
Analysts, on average, expect the company to report net sales of $896.01 million.
For the fiscal 2022, the retailer anticipates its net sales to be down mid-single-digits from $3.7 billion in 2021, compared with previous outlook of flat to up 2 percent.
Analysts, on average, project the firm to post net sales of $3.73 billion.
For the full-year, Abercrombie also expects its capital expenditures to be at around $150 million.
Share Movement:
In the premarket, the shares were trading down more than 14% at $16 from the previous close.
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