Abercrombie & Fitch Q3 Sales Down - Quick Facts

(RTTNews) - Abercrombie & Fitch Co. (ANF) Tuesday said third-quarter sales decreased 12 percent to $1.033 billion from $1.170 billion in the same period last year.

Comparable sales for the quarter decreased 14 percent, compared with comparable U.S. sales decreasing 14 percent and comparable international sales decreasing 15 percent.

The company currently expects to report third-quarter adjusted earnings at the higher end of the prior guidance range of $0.40 to $0.45 per share. Analysts currently expect third-quarter earnings of $0.40 per share.

For the fiscal 2014, the company expects adjusted earnings to range between $1.40 and $1.50 per share. Analysts currently expect full-year earnings of $1.96 per share.

Additionally, the company has announced plans to close all of its stand-alone Gilly Hicks stores by the end of the first quarter of 2014.

The company will continue to offer Gilly Hicks branded intimate apparel through its Hollister stores and direct-to-consumer business. Closures in Europe are subject to applicable notice and consultation provisions.

"In connection with our long-term strategic review, we have decided to focus the future development of the Gilly Hicks brand through Hollister stores and direct-to-consumer channels. This decision reflects the successful pilot of selling Gilly Hicks branded intimates in Hollister stores, " said Mike Jeffries, CEO, Chairman.