Abercrombie & Fitch Co. (NYSE: ANF) came out with second-quarter earnings Thursday.
The retailer, based in New Albany, Ohio, reported GAAP net loss per diluted share of $0.06 for the second quarter, compared to GAAP net loss per diluted share of $0.23 for the second quarter ended July 29, 2017.
Excluding certain items, the company reported adjusted non-GAAP net income per diluted share of $0.06 for the quarter, compared to adjusted non-GAAP net loss per diluted share of $0.16 last year.
Year-over-year changes in foreign currency exchange rates, net of hedging, amounted to a benefit of approximately $0.01 per diluted share.
According to CEO Fran Horowitz, "We are pleased with our second quarter performance, capping off a strong first half of the year. During the second quarter, we delivered both top and bottom line growth, while continuing to invest in the transformation of our business."
The company ended the second quarter with $581.2 million in cash and cash equivalents, compared to $421.9 million last year, and ended the second quarter with gross borrowings under the company's term loan agreement of $253.3 million, compared to $268.3 million last year. The company ended the second quarter with $454.9 million in inventory, a decrease of 3% from last year.
The Board of Directors declared a quarterly cash dividend of $0.20 per share on the Class A Common Stock of Abercrombie & Fitch Co., payable on September 17, to stockholders of record at the close of business on September 7.
Shares fell back $3.65, or 13.4%, to $23.57
