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Thursday, 13-Aug-2009 02:41 Email | Share | | Bookmark
Earnings Preview: Abercrombie & Fitch

Teen apparel retailer Abercrombie & Fitch Co. reports earnings for the fiscal second-quarter quarter on Friday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Abercrombie & Fitch Co. has seen sinking sales amid the recession, as it kept its price points among the highest in the teen sector and waited for a rebound. Over the past few months it has planned more sales and offered lower entry-level prices, but sales are still expected to sink during the quarter ended Aug. 2. Meanwhile, competitors such as Aeropostale Inc. and American Eagle Outfitters Inc., with their emphasis on low prices and basics, have fared better.

Sales in stores open at least on year, or so-called same-store sales, fell 28 percent in July, 32 percent in June and 28 percent in May.

The company said it was shuttering its high-priced Ruehl line of handbags and apparel in a move expected to be complete in January 2010. New Albany, Ohio-based Abercrombie also operates surf-themed Hollister, abercrombie, its store for children, and Gilly Hicks, an intimate apparel line.

BY THE NUMBERS: Analysts polled by Thomson Reuters, on average, predict a loss of 7 cents per share on revenue of $647.9 million. The company said, according to a preliminary tally, sales fell 23 percent to $648.5 during the quarter.

ANALYST TAKE: In a note to investors, RBC Capital Markets analyst Howard Tubin said in a client note Tuesday lowering price points and offering more "current-season" fashion in stores are encouraging acts, but he said it will take more of an effort for results to improve.

"We remain on the sidelines with respect to the shares until we see significant newness offered within the assortments across all concepts," wrote Tubin, who rates the company "Average Risk."

Stifel Nicolaus analyst Richard Jaffe wrote in a note to investors that he expects a loss of 3 cents per share, with weak women's apparel offerings and the recession holding back results.

"On a positive note we believe management has demonstrated better inventory management, which bodes well for the second half and we believe that the markdown cadence will likely be more effective going forward (shallower markdowns taken throughout the quarter instead of deep clearance activity at the end of the quarter)," he wrote.

WHATS AHEAD: Analysts will be looking for any indication about how back-to-school sales are doing, an update on closing Ruehl stores and any indications about how the company is planning for the upcoming holiday season.

STOCK PERFORMANCE: Shares rose 13 percent during the three months ended Aug. 1.


Wednesday, 22-Jul-2009 06:59 Email | Share | | Bookmark
The always lost jewelrys

I had a chat with my colleague Sister Cui at noon today,and the talk was started with the accident which happened last Saturday when she walked aroud the street. It was a fine day of fall, Sister Cui went to the street ,ready to buy some clothes.There were many people in the street on Saturday, and she didn’t ride a car. Suddenly someone hurried to walk toward her when she stood at a place near the railway station casually,and the man rub her of the beautiful replica Tiffany Necklaces without her expectation, Sister Cui was too late to see the appearance of the thief who having disappeared in the crowd in the twinkling of an eye. When she recovered,there was only the feeling of burning pain in the neck, the neck was left several blood traces, and she was not only surprised but also afraid. Welcome to Tiffany


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