ADVFN - Advanced Financial Network.
HOME» NYSE » A » ANF Stock Price » ANF Stock News

Abercrombie & Fitch Share News

 Abercrombie & Fitch Co. Stock Price
ANF Stock Price
 Abercrombie & Fitch Co. Stock Chart
ANF Stock Chart
 Abercrombie & Fitch Co. Stock News
ANF Stock News
 Abercrombie & Fitch Co. Company Information
ANF Company Information
 Abercrombie & Fitch Co. Stock Trades
ANF Stock Trades

At Earnings Season's End, Weak Dollar Means Strong Results

--U.S. exporters gain from soft-dollar impact --Earnings stronger than expected for S&P 500 --Effect expected to persist into second quarter By Chana R. Schoenberger Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- As earnings season draws to a close, U.S. companies' upbeat results have the weak dollar to thank. Large U.S. companies with sizeable overseas operations reported that the dollar's slide against other currencies helped them, as money earned abroad was converted into more dollars when repatriated back to the U.S. Currency translation benefits could be seen across the board for U.S. exporters. Campbell Soup Co. (CPB) reported on Monday that its earnings were up 11% for the quarter. That included the impact of exchange rates, which contributed to both a 7.9% rise in profits for the baking and snack businesses and a 7% lift in international soup, sauces, and beverage revenue. Clothing retailer Abercrombie & Fitch Co. (ANF) on Wednesday also reported a higher-than-expected profit for the quarter, citing a higher gross margin of 62.7% due to currency benefits, among other factors. For S&P 500 companies, "earnings definitely came in much stronger than expected for the first quarter and one of the factors was positive currency translation," said Alexander Young, international equity strategist at Standard & Poor's. "Clearly the weak dollar helped corporate America exceed consensus earnings." The largest American companies fared better in the first quarter of 2011 than investors expected. Analysts' consensus forecasts put earnings growth at 13% for S&P 500 companies heading into the quarterly earnings season; by the end of the reporting period, the analysts were expecting 19% earnings growth, according to Consensus S&P's CapIQ. The dollar index traded at 75,887 in New York on Tuesday. Since the Federal Reserve began pumping money into the U.S. economy as part of its quantitative-easing program, slated to end in June, the dollar has been falling, weighed by supply. U.S. regulations don't require companies to report their international revenue separately, and only half the companies in the S&P 500 do so. For those companies, Europe tends to be the biggest foreign source of revenue, Young said. Sectors such as energy, materials, and industrials, which all reported good earnings this quarter, also tend to have the largest global footprints, Young said. The current quarter, which will finish at the end of June, should also show positive currency effects for American companies, Young said, noting that while the trade-weighted dollar index has had an average level of 75 during the quarter, companies will be comparing their results to the second quarter of 2010, when the index averaged 84. "This positive currency translation is persisting," he said. While the dollar's long-term malaise has been good for companies that sell American products abroad, the same economic forces are pushing up prices at home, which can have a mixed effect on companies' U.S. operations. "A weak dollar promotes inflation in the U.S. because it lowers Americans' purchasing power," Young said. -By Chana R. Schoenberger, Dow Jones Newswires; 212-416-4803;

Stock News for Abercrombie & Fitch (ANF)
04/15/201512:30:00ANF Immobilier : Nombre d’actions et de droits de vote au 31 m...
04/13/201500:42:18If You Absolutely Must Own Retail, Look For Debt-Free Dividend...
04/12/201512:01:02Can Nike Inc and Under Armour Inc Survive an Athletic Apparel...
04/11/201509:16:26I Never Really Liked Goldilocks
04/08/201516:51:06Perilous Times - Perry Ellis International Falls Short
04/03/201515:17:56Statement of Changes in Beneficial Ownership (4)
04/03/201515:17:56Statement of Changes in Beneficial Ownership (4)
04/03/201507:13:36Any Agreement In Iran Deal Is Good - Cramer's Mad Money (4/2/15)
04/03/201501:48:15Macau: Six Times Bigger Than Vegas, With Six Times The Opportunity
04/01/201508:10:02Latest Insider Purchases In Abercrombie & Fitch, Anacor Pharmaceuticals...
03/30/201516:26:21Annual Report (10-k)
03/28/201512:22:59American Apparel Stock Crashing Due To Troubles With Charney
03/26/201517:16:38Statement of Changes in Beneficial Ownership (4)
03/26/201517:16:38Statement of Changes in Beneficial Ownership (4)
03/26/201517:16:38Statement of Changes in Beneficial Ownership (4)
03/26/201517:16:38Statement of Changes in Beneficial Ownership (4)
03/26/201517:16:38Statement of Changes in Beneficial Ownership (4)
03/26/201517:16:38Statement of Changes in Beneficial Ownership (4)
03/26/201517:16:11Current Report Filing (8-k)
03/26/201517:16:11Statement of Changes in Beneficial Ownership (4)

Abercrombie & Fitch and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations