Abercrombie & Fitch news and archive

Abercrombie & Fitch: Young Hollister clientele ensures record revenue

Abercrombie & Fitch Co. exceeded expectations in the second quarter of the 2025/26 financial year, achieving another record revenue. The US-based apparel provider increased its revenue by 7 percent year-on-year to 1.2 billion dollars. This made the quarter, which ended on August 2, the eleventh consecutive quarter of growth for the company,...

Business

Abercrombie & Fitch targets revenues of 4.1 to 4.3 billion dollars by FY2025

As part of its Always Forward Plan, Abercrombie & Fitch Co. anticipates annual revenues of 4.1 billion dollars to 4.3 billion dollars and an annual operating margin rate at or above 8 percent by the end of fiscal 2025. In the longer-term, the company believes it can reach 5 billion dollars of annual revenues and an annual operating margin rate...

Business

Abercrombie & Fitch posts Q1 sales increase of 61 percent

Net sales of 781 million dollars at Abercrombie & Fitch, were up 61 percent as compared to last year and up 6 percent compared to pre-Covid 2019 first quarter net sales. The company’s digital net sales increased 45 percent to 403 million dollars, while gross profit rate improved 900 basis points to 63.4 percent. Commenting on the first quarter...

Retail

Facebook launches new way to shop with major brands

Facebook has launched “Live Shopping Fridays” allowing customers to shop cosmetics and fashion brands via a live stream. During the summer period, customers will be able to get a close-up look at new products, ask for advice and make comments. Facebook also hopes that the live shopping experience will offer the chance for brands to build...

Business

Abercrombie & Fitch posts 5 percent decline in Q4 sales

Abercrombie & Fitch Co. fourth quarter net sales of 1.1 billion dollars were down 5 percent compared to last year, reflecting the adverse impact of Covid-19. Digital net sales increased 34 percent to 639 million dollars. The company said, gross profit rate improved 230 basis points to 60.5 percent, operating income was 116 million dollars and...

Business

Abercrombie & Fitch elects Kenneth Robinson to its board of directors

Abercrombie & Fitch Co. has announced the election of Kenneth (Ken) Robinson as a Director, effective February 4, 2021. Robinson, the company said, will serve as a member of the board’s audit and finance committee. He was most recently senior vice president, audit and controls for Exelon Corporation, an energy company with the largest number of...

Business

Abercrombie & Fitch names Holly May as Chief Human Resource Officer

Abercrombie & Fitch Co. has appointed Holly May as its Chief Human Resources Officer. In this role, the company said, May leads the company’s global human resources function and strategy, including talent management and leadership development, diversity and inclusion, compensation and benefits, and all other facets of organizational, talent and...

Business

Abercrombie & Fitch expects online growth to drive better Q4 results

In its updated fourth quarter 2020 plan, Abercrombie & Fitch Co. said, it now expects net sales to decline in the 5 percent to 7 percent range versus plan of down 5 percent to down 10 percent, reflecting ongoing digital momentum offset by store closures and capacity restrictions in North America and EMEA. The company anticipates gross profit...

Retail

Abercrombie & Fitch to close London, Paris and Munich flagships

Abercrombie & Fitch announced Tuesday plans to close its flagship stores in London, Munich and Paris by the end of January as part of the ongoing restructuring of its store network. The US fashion and lifestyle brand has previously announced plans to reposition from larger format, tourist-dependent flagship locations to smaller, omni-enabled...

Business

Abercrombie & Fitch posts surge in Q3 profit

Third quarter net sales at Abercrombie & Fitch Co. of 820 million dollars, were down 5 percent as compared to last year, reflecting the adverse impact of Covid-19 on store sales. The company said in a statement that digital net sales increased 43 percent to 382 million dollars reflecting robust growth in every month of the quarter. Gross profit...

Business

Abercrombie & Fitch posts Q2 profit

Abercrombie & Fitch Co., for the second quarter ended August 1, 2020 has reported net sales of 698 million dollars, down 17 percent compared to last year, reflecting the adverse impact of Covid-19 on store sales. The company said in a statement that digital net sales increased 56 percent to 386 million dollars, reflecting growth in every month...

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...