Abercrombie & Fitch’s share in pre-conference trading sank by 21.7%, as it showed losses in the first quarter.
The clothing company posted a net loss of $ 16.5 million, or 32 cents a share, after net gains of $ 41.8 million, or 64 cents a share, a year ago.
Adjusted losses of 27 cents per share were lower than earnings estimates of 2 cents per share.
Sales stood at $ 812.8 million, up from $ 781.4 million, the highest in the first quarter. It was also higher than converging estimates for $ 799.3 million.
For the second quarter, the company’s prospects point to a decline in sales by a low single-digit percentage, while convergent estimates expect an increase of 2.7% in sales to 888.4 million dollars.
For the year, the company expects sales either unchanged or up 2%. Convergent estimates point to sales of $ 3.815 billion (+ 2.7%).
Source: Capital
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