Abercrombie & Fitch revenue at stores open at least a year falls in April, misses expectations

Abercrombie & Fitch revenue figure falls in April

NEW ALBANY, Ohio — Abercrombie & Fitch Co.’s revenue at stores open at least a year fell 7 percent in April, worse than analysts predicted.

Analysts polled by Thomson Reuters predicted a smaller decrease of 2.3 percent for the four weeks ending May 2.

The measure is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.

Total revenue for the month rose 8 percent to $214.3 million.

The teen clothing company’s namesake brand posted a 7 per percent drop in revenue at stores open at least a year in April, while abercrombie kids reported a 5 percent drop. Hollister’s figure dipped 7 percent for the month.

For the quarter, the company’s revenue at stores open at least a year grew 1 percent, while total net revenue rose 14 percent to $687.8 million.

Analysts expect net revenue of $668.1 million for the quarter.

The company is due to announce first-quarter results on May 18.

Abercrombie & Fitch operates 1,100 stores.