financial
financial

A&F Profits Up 3.4 Percent

Teen retailer plans to open 104 new non-flagship stores this year.

financial/news
Abercrombie & Fitch Co. managed to navigate a tough economy well enough to lift its first-quarter bottom line a bit.

Earnings for the three months ended May 3 inched up 3.4 percent to $62.1 million, or 69 cents a diluted share, on a 7.8 percent rise in sales to $800.2 million.

The quarter’s take had management crowing. “Despite a tough selling environment, we produced bottom-line growth while still remaining true to the aspirational positioning of our brand,” said Mike Jeffries, chief executive officer.

The specialty retailer did modestly trim projections of gross square-footage growth to 10 percent this year from the 11 percent previously expected. Abercrombie will open 104 new non-flagship stores in North America this fiscal year.


For complete coverage, see Monday’s issue of WWD.
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications