Abercrombie & Fitch Projects FY19 Comps. To Be Up Low-single Digits

(RTTNews) - Abercrombie & Fitch Co. (ANF) announced, for fiscal 2019, the company expects: net sales to be up in the range of 2% to 4%, driven by positive comparable sales and net new store contribution, partially offset by an adverse impact of changes in foreign currency exchange rates of approximately $15 million primarily in the first quarter. The company expects comparable sales to be up low-single digits, for fiscal year.

For the first quarter of fiscal 2019, the company expects: net sales to be flat to last year; and comparable sales to be in the range of flat to up 2%.

For the fourth quarter ended February 2, 2019: net sales were $1.2 billion decreased 3% from last year, reflecting a combined adverse impact of approximately 6% from the calendar shift, the loss of fiscal 2017's 53rd week and changes in foreign currency exchange rates. Comparable sales increased 3%, for the quarter. Adjusted non-GAAP earnings per share was $1.35 compared to $1.38, prior year.

For the full year ended February 2, 2019: net sales were $3.6 billion, up 3% from last year, despite the adverse impact from the loss of fiscal 2017's 53rd week. Comparable sales increased 3%, for fiscal year. Adjusted earnings per share was $1.15 compared to $0.65, last year.