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Abercrombie & Fitch fiscal Q1 loss widens 79.2% YOY

Abercrombie & Fitch Co. said its normalized net income for the fiscal first quarter ended May 3 was a loss of 23 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 18 cents per share.

The per-share loss increased 88.5% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $17.4 million, compared with a loss of $9.7 million in the year-earlier period.

The normalized profit margin fell to negative 2.1% from negative 1.2% in the year-earlier period.

Total revenue decreased on an annual basis to $822.4 million from $838.8 million, and total operating expenses came to $849.0 million, compared with $854.1 million in the year-earlier period.

Reported net income totaled a loss of $23.8 million, or a loss of 32 cents per share, compared to a loss of $7.0 million, or a loss of 9 cents per share, in the year-earlier period.