Notable News Spotlight: Abercrombie & Fitch Co. (NYSE:ANF)

Abercrombie & Fitch Co. (NYSE:ANF) changed -0.90% to recent value of $9.91. The stock transacted 3034599 shares during most recent day however it has an average volume of 2.67M shares. It spotted trading -67.65% off 52-week high price. On the other end, the stock has been noted 33.56% away from the low price over the last 52-weeks.

On March 26, 2020, Abercrombie & Fitch Co. (NYSE:ANF) reported updates in response to the continued spread of COVID-19.

With the well-being of its customers, associates and communities in mind, and to help limit the spread of the virus, Abercrombie & Fitch Co. will continue to keep stores outside of the APAC region temporarily closed until further notice. The Company will continue to follow the guidance of local governments and health organizations to determine when it can reopen its stores across North America and the EMEA region.

The Company’s stores in the APAC region across all its brands are currently open. The Company’s online stores remain open in all regions.

Fran Horowitz, Chief Executive Officer, said, We entered this period of unprecedented uncertainty with a healthy liquidity position and are taking immediate, aggressive and prudent actions, including reevaluating all expenditures to enhance our ability to meet the business’ short-term liquidity needs, in order to best position the Company for our key stakeholders, including our associates, customers and shareholders. We are partnering with our vendors, landlords, and lenders to preserve liquidity and mitigate risk during the COVID-19 outbreak.

As of February 1, 2020, the Company had $671 million in cash and cash equivalents. As a precautionary measure, on March 25, 2020, the Company initiated the process to borrow $210 million under its senior secured asset-based revolving credit facility to improve its cash position. In addition, last week the Company withdrew the majority of excess funds from its Rabbi Trust, providing the Company with approximately $50 million of additional cash.

ANF has a gross margin of 59.40% and an operating margin of 2.80% while its profit margin remained 1.90% for the last 12 months. Its earnings per share (EPS) expected to touch remained 163.80% for this year while earning per share for the next 5-years is expected to reach at -14.85%.

The company has 63.43M of outstanding shares and 62.06M shares were floated in the market. According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -6.34% from the mean of 20 days, -30.33% from mean of 50 days SMA and performed -38.11% from mean of 200 days price. Company’s performance for the week was 14.04%, -24.81% for month and YTD performance remained -42.68%.

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