Abercrombie & Fitch earnings for the first quarter of 2019 have ANF stock falling hard on Wednesday.
Abercrombie & Fitch (NYSE:ANF) starts off its earnings report for the first quarter of the year with losses per share of 56 cents. This is the same as the company’s losses per share from the first quarter of 2018. Unfortunately for ANF stock, it misses Wall Street’s losses per share estimate of 44 cents for the period.
Net loss reported in the Abercrombie & Fitch earnings release for the first quarter of 2019 comes in at $18.29 million. The company’s net loss from the same period of the year prior was $41.51 million.
Abercrombie & Fitch also reported an operating loss of $27.26 million for the first quarter of the year. This is better than the clothing company’s operating loss of $42.20 million reported in the first quarter of the previous year.
The Abercrombie & Fitch earnings report for the first quarter of 2019 has revenue coming in at $733.97 million. This is an increase over the company’s revenue of $730.90 million reported during the same time last year. It also comes in above analysts’ revenue estimate of $733.16 million for the quarter, but couldn’t stop ANF stock from falling today.
The most recent Abercrombie & Fitch earnings report also includes its outlook for the second quarter of 2019. The company says that it is expecting revenue for the quarter to be flat to up 2%. Revenue for the second quarter of 2018 was $842.41 million.Wall Street is looking for earnings per share of $866.69 million for the quarter.
ANF stock was down 24% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.