Abercrombie & Fitch Sees 10% EMEA Sales Drop Due to Middle East Conflict
ANF sits 27% above its 52-week low of $65.45.
Summary
Abercrombie & Fitch reported a 10% decline in sales across its Europe, Middle East, and Africa (EMEA) region in Q1, attributing the weakness to the ongoing Middle East conflict. This specific regional headwind, which the company expects to persist through the year, was detailed following earlier Q1 results. Despite this, the company's overall Q1 sales rose 1.5% to $1.11 billion, and adjusted EPS of $1.47 beat analyst expectations of $1.28. ANF also maintained its full-year earnings and sales guidance, leading to an 11% jump in shares as results were better than many investors feared.
At the time of this announcement, ANF was trading at $83.36 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $65.45 to $133.11. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.