Benzinga Breakdown: Abercrombie & Fitch's Q1 Earnings

• EPS $(0.59) vs $(0.51) Est, down 11 percent YoY
• Sales $685.5M vs $710M Est, down 3 percent YoY
• Comps down 4 percent

What This Means For Abercrombie & Fitch

Arthur Martinez, Executive Chairman of Abercrombie & Fitch Co. ANF, said, "We expect the second quarter to remain challenging, but to see better results in the back half of the year as our assortments continue to improve and we see returns from significant investments in marketing, store management and omnichannel."

What This Means For Investors

Abercrombie’s results follow a trend of disappointing results from clothing and footwear retailers. Recent examples include L Brands Inc LB and The Buckle Inc BKE, both down 16 percent and 22 percent, respectively.

Abercrombie shares were trading down 15 percent at $21.15.