Comparable store sales growth declines 10 percent at Abercrombie & Fitch (NYSE:ANF), with falls seen across the main brands such as Hollister, Abercrombie Kids, and Abercrombie & Fitch. Same-store sales are forecast to fall by another 10 percent in the second half of the year, hence EPS is expected in the range $2.50-$2.75
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Target (NYSE:TGT) sees buoyant U.S. retail sales that balance a fall in revenues from credit cards; card receivables decline 5 percent to $5.9 billion. EPS for the third quarter is expected in the range $0.83-$0.93 against market expectations of $0.76. EPS for the full year is forecast in the range $4.64-$4.85 against expectations of $4.31.
Facebook (NASDAQ:FB) director Peter Thiel, who is also one of the earliest investors in the company, has reportedly converted 9 million Class B shares to Class A, the action suggesting he may have plans to sell the stock. Thiel earned a handsome return on his Facebook investment of $500,000 worth more than $1 billion.
Netflix (NASDAQ:NFLX) plans to make a thrust into Scandinavian countries Denmark, Sweden, Norway and Finland for its streaming service by the end of the year. Netflix is already present in a number of countries outside the U.S including Canada, Ireland, Latin America and the U.K.
Russian mobile operator VimpelCom (NYSE:VIP) reports $488 million as profit in its second quarter, up 83 percent, and beating expectations of $340.3 million by a wide margin, though revenues fell 4 percent to $5.7 billion, and in line with forecasts. EBITDA grows 2 percent to $2.48 billion.