Abercrombie & Fitch August revenue figure increases 6 percent, slightly ahead of expectations
By APThursday, September 2, 2010
Abercrombie & Fitch Aug. revenue comparison rises
NEW ALBANY, Ohio — Teen clothing company Abercrombie & Fitch Co. said Thursday that revenue in its stores open at least a year rose 6 percent in August.
Analysts surveyed by Thomson Reuters, on average, expected the figure to rise 5.9 percent.
Revenue at stores open at least a year is a key indicator of a retailer’s performance because it excludes results from stores that open or close during the year. The figure rose 9 percent at Abercrombie & Fitch stores, fell 9 percent at abercrombie children’s stores and rose 7 percent at its surf-themed Hollister stores.
Total revenue rose 14 percent to $353.7 million in the four weeks ending Aug. 28.
So far this year, the company’s net revenue has increased 15 percent to $1.79 billion, while revenue at stores open at least a year has risen 4 percent.
At the end of the month, the company operated 1,099 stores including 340 Abercrombie & Fitch stores, 202 abercrombie kids stores, 509 Hollister Co. stores and 17 Gilly Hicks stores in the U.S. Abroad, the company has six Abercrombie & Fitch stores, four abercrombie kids stores and 21 Hollister Co. stores.
Shares fell $1.21,or 3.3 percent, to $35.37 in premarket trading Thursday.
