He noted that A&F’s nonpromotional stance, including not repeating last year’s 15-percent-off back-to-school direct mailer, has made interpretation of results difficult. He also said, although A&F’s men’s business remains difficult, he believed there is a strong fashion in women’s that could drive the business.
Still, Seth Johnson, chief operating officer, said last week that July’s sales results “reflect strong demand for spring-summer clearance and disappointing sales of full-price fall merchandise.”
For the first half, income rose 10.9 percent to $60.4 million, or 60 cents a diluted share, compared to income of $54.4 million, or 53 cents, in the comparable period last year. Sales rang in at $702.4 million, a 9.4 percent increase over year-ago sales of $641.9 million.