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Q3FY16 GAAP EPS slips 80% at Abercrombie & Fitch
Nov '16
For the three months ended October 29, 2016, GAAP earnings per diluted share slipped steeply by 80 per cent year on year to $0.12 at apparel marketer Abercrombie & Fitch. Excluding certain items, the company reported adjusted non-GAAP earnings per diluted share of $0.02 in the reporting quarter as against $0.48 in the prior fiscal's third quarter.

According to the company, the adverse impact from year-over-year changes in foreign currency exchange rates for the quarter was approximately $0.09 per diluted share.

Net sales for the third quarter of fiscal 2016 were $821.7 million, down 6 per cent over the previous fiscal's same quarter, while comparable sales too fell 6 per cent.

As a percentage of sales, gross profit margin stood at 62.2 per cent in the quarter under review, but excluding certain items, gross profit margin dropped 60 basis points on a constant currency basis.

Operating income for the reporting quarter amounted to $19.6 million, compared to operating income of $41.0 million in the fiscal ago quarter. (AR)

Fibre2Fashion News Desk – India

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