Abercrombie & Fitch: Q3 revenues up, names Kristin Scott President of Global Brands

American retailer of smart clothing and accessories Abercrombie & Fitch said on Thursday its Q3 revenue for 2018 rose marginally, while comparable sales increased by 3 percent on top of 4 percent growth same quarter last year. GAAP net income per diluted share was 35 cents compared to 15 cents last year, while non-GAAP diluted net income per share was 33 cents compared to 30 cents last year.

The company’s sales in Q3 2018 were 861.2 million US dollars, up from 859.1 million US dollars a year earlier. For its fourth quarter, the company expects net sales to be down mid single digits and comparable sales to be up low single digits. For fiscal 2018, the company projects net sales and comparable sales growth of 2 to 4 percent.

The company also announced that Kristin Scott, currently brand president of Hollister Co., has been appointed President, Global Brands, effective immediately. In this newly established role, the company said, Scott will be responsible for driving the growth of all Abercrombie & Fitch Co.’s brands globally, reporting to Fran Horowitz, the company's Chief Executive Officer. Additionally, the company added that it has eliminated the individual brand president positions and that Stacia Andersen, brand president of Abercrombie & Fitch and Abercrombie Kids is leaving the business.

Abercrombie & Fitch Co. was founded in 1892 by Ezra Fitch, David Abercrombie and is based in New Albany, Ohio, United States. The Abercrombie & Fitch brand is known for its well-crafted products with an effortless, American style. The company offers clothing and accessories targeted at the young consumers through three distinct brands - Abercrombie & Fitch, Hollister and Abercrombie Kids.

Offering men's, women's and kids' clothing and accessories, the New York-listed company has about 40,000 employees worldwide and operates more than 880 stores.

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Picture:Facebook/Abercrombie & Fitch