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current news

Abercrombie: 23% 2Q Sales Plunge

(Filed Under Financial and General Interest News). For the second quarter ended August 1st, 2009, Abercrombie & Fitch, Co. reported total net sales of $648.5 million, a 23 percent drop from total sales of $845.8 million during last year's second quarter. Comparable store sales dropped 30 percent, and total company direct-to-consumer net sales decreased 13 percent to $48.7 million.

For its intimate apparel brand, Gilly Hicks, the company reported that it remains on track to open one new Gilly Hicks store by the end of fiscal 2009. The company currently operates 16 Gilly Hicks. In February 2009 the chain totaled at 15 stores nationwide, up from a total of five stores in February 2008.

In total, at quarter end Abercrombie & Fitch operated 1,115 stores including 350 Abercrombie & Fitch stores; 210 abercrombie stores; 510 Hollister stores; 29 RUEHL stores and 16 Gilly Hick's stores throughout the United States. The company ended the quarter with 14 international stores. The company plans to close all RUEHL stores by the end of fiscal 2009.

more Financial and General Interest News >>

Published 08-18-2009 by Amanda Torres Price

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Abercrombie: 23% 2Q Sales Plunge

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