Abercrombie news and archive

Abercrombies & Fitch Q4 sales up, earnings decline

For the fourth quarter, Abercrombie & Fitch net sales of 1.2 billion dollars, were up 3 percent on a reported basis and 5 percent on a constant currency basis. For the full year, net sales of 3.7 billion dollars remained approximately flat on a reported basis and up 2 percent on a constant currency basis. Net income per diluted share was 75...

Business

Sales and earnings drop at Abercrombie & Fitch

Abercrombie & Fitch Co. has reported net loss per diluted share of 3.90 dollars and 3.29 dollars on a reported and adjusted non-GAAP basis compared to net loss per diluted share of 29 cents on both, reported and adjusted non-GAAP basis last year. Net sales for the quarter declined by 34 percent to 485 million dollars. Commenting on the first...

BusinessFeatured

Abercrombie & Fitch posts flat Q3 results, earnings decline

For its third quarter, Abercrombie & Fitch Co. reported net sales of 863.5 million dollars, approximately flat on a reported basis and up 1 percent on a constant currency basis as compared to last year. The company said, comparable sales were also approximately flat against positive 3 percent comparable sales last year. Net income per diluted...

Business

Abercrombie & Fitch Co. expands operations in global markets

Abercrombie & Fitch Co. has announced plans for expansions Europe, the Middle East and Africa. The company is opening new stores for its brands in major cities in these key markets as part of an expansion strategy that has already started. In the UK, the company is introducing new stores to the Westfield London, the largest shopping destination...

Business

Abercrombie & Fitch announces Q1 results, plans 3 store closures

Abercrombie & Fitch Co announced today an increase of net sales to 734 million dollars for its first quarter of the 2019 fiscal year, which quarter ended on May 4, 2019. While net sales only increased slightly compared to the same quarter last year, the company experienced an improved operating loss margin and expects net sales for the overall...

Retail

Why Abercrombie & Fitch could benefit from a new owner

Teenage fashion giant Abercrombie & Fitch is thought to be looking for a new owner, having approached an investment bank to gain insight into the interest from other retailers and groups. The troubled retailer has been struggling for years, having failed to keep up with changing times in the fast fashion industry. It lost its fashion credibility...

People

Abercrombie & Fitch to revamp under new management

Abercrombie & Fitch, the ailing Amercican teen retailer, is expected to shake up its management by creating six new roles. The details are expected to be released this week as part of a strategy to organise executives by brand, rather than solely by product categories. According to the Wall Street Journal all but one of the new positions will be...

Fashion Featured

US high court backs Muslim woman denied job at Abercrombie

The US Supreme Court ruled Monday in favor of a Muslim woman who claimed she was denied a sales job with fashion retailers Abercrombie & Fitch as a teen because of her headscarf. By an eight to one vote, the high court sided with the Equal Employment Opportunity Commission (EEOC), a federal government agency that sued Abercrombie on behalf of...

BusinessFeatured

Abercrombie & Fitch: leaving the good old times behind

Abercrombie & Fitch Co. shares dropped the most in almost four months after holiday sales missed estimates by nearly 2 percent. Confidence faltered even deeper after the teen apparel retailer declined to give an earnings forecast. The problem is, according to market insiders, Abercrombie & Fitch is fighting at too many fronts at the same time....

Business

TJX gets upgrade, GIII soars while Abercrombie struggles

Shares of US apparel and home goods company TJX Cos. (TJX) climbed up by 1.35 percent to 66.12 US dollars yesterday after the discount retailer was added to the "conviction" buy list at Goldman Sachs and upgraded to "buy" from "neutral" this morning. Despite a weak third quarter, which analysts see as an abberation, TJX has seen good revenue...

Design

Abercrombie to lose its logo

Could Abercombie & Fitch be considering losing its logo? Last week the US collegiate fashion company reported another sales decline,its 10th consecutive sales drop, and so it appears fashion-conscious students prefer to buy their sweats elsewhere. "In the spring season we are looking to take the North American logo business to practically...

Design

Abercrombie & Fitch Q2 effective tax rate 26.3 percent

REPORT_ Abercrombie & Fitch Q2 effective tax rate 26.3 percent Abercrombie & Fitchgross profit rate for the second quarter was 62.1 percent, 180 basis points lower than last year. The stores and distribution expense rate for the quarter was 47.9 percent of net sales, down 200 basis points from last year. Marketing, general and administrative...