Content about Abercrombie

May 28, 2013
Abercrombie & Fitch reports net loss

Abercrombie & Fitch shrunk its net loss during the first quarter of 2013 but still reported thin financial results.

New Albany, Ohio -- Abercrombie & Fitch shrunk its net loss during the first quarter of 2013 but still reported thin financial results. Net loss for the quarter was $7.2 million, compared to $21.3 million during the first quarter of 2012. The results missed analysts’ estimates.

Net sales dropped 9% from $921.2 million to $838.8 million. Same-store sales plummeted 17%. Direct-to-consumer sales fell 6%. U.S. same-store sales fell 14%; international comparable sales were down 16%.

May 22, 2013
Judge weighs injunction against Abercrombie & Fitch over store accessibility

A federal judge in Denver is considering an injunction after ruling that nearly 250 Abercrombie & Fitch stores, including its namesake and Hollister banners, are unfriendly to the disabled, the Associated Press reported.

Denver -- A federal judge in Denver is considering an injunction after ruling that nearly 250 Abercrombie & Fitch stores, including its namesake and Hollister banners, are unfriendly to the disabled, the Associated Press reported.

The judge agreed in March with the Colorado Cross-Disability Coalition that the stores limited access for wheelchair-bound customers.  He said the only option under the Americans With Disabilities Act is an injunction ordering the problems to be fixed, the report said.

April 3, 2013
Abercrombie & Fitch reveals international expansion plans

In its annual report filed Tuesday, Abercrombie & Fitch revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores.

New York -- In its annual report filed Tuesday, Abercrombie & Fitch revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores. The news sent the teen retailer’s shares rising on Wednesday.

The company also said in the report that it is maintaining its focus on boosting profitability by simplifying processes, eliminating less-profitable parts of its business, shoring up efficiencies and cutting expenses.

February 26, 2013
Abercrombie & Fitch names EVP stores

Abercrombie & Fitch Co. announced the promotion of Amy Zehrer to the position of EVP stores, from SVP, effective immediately.

New Albany, Ohio -- Abercrombie & Fitch Co. announced the promotion of Amy Zehrer to the position of EVP stores, from SVP, effective immediately.

Zehrer has been with Abercrombie & Fitch since 1992; she joined as a manager-in-training at the brand’s Rosedale Mall location in Roseville, Minn. Over the last 21 years, Zehrer has proven herself as a definitive leader, evolving the Abercrombie & Fitch brand and playing an integral part in the success of its international expansion, the company said.

February 22, 2013
Abercrombie Q4 profit tops view; same-store sales decline

Abercrombie & Fitch Co.’s net income rose to $157.2 million for the fourth quarter, compared with $45.8 million a year earlier for a 13-week period.

New Albany, Ohio -- Abercrombie & Fitch Co.’s net income rose to $157.2 million for the fourth quarter, compared with $45.8 million a year earlier for a 13-week period. The chain said its net income was calculated using a new system for valuing inventory
 
Sales rose 11% to $1.47 billion for the 14 weeks ended Feb. 2, led by a 34% rise in international sales. (The period, however, includes an extra week compared to year earlier.)

Same-store sales were flat for the namesake chain, down 2% at Hollister and down 3% abroad.

January 30, 2013
Abercrombie looks to convert former Beatles’ headquarters to store

Abercrombie & Fitch wants to turn the building that once housed the Beatles’ Apple Records into one of its namesake children’s stores, Bloomberg News reported.

New York -- Abercrombie & Fitch wants to turn the building that once housed the Beatles’ Apple Records into one of its namesake children’s stores, Bloomberg News reported.  

The building is where the famed singing group performed together for the last time, in 1969. The performance, which occurred on the roof, was filmed for the movie “Let It Be.” The Westminster borough council is due to vote on the proposal next week.

December 21, 2012
J.C. Penney hires former Abercrombie VP as director of visual merchandising

J.C. Penney Co. has hired Brandon Tonniges, a former Abercrombie & Fitch Co. executive, as director of visual merchandising, Bloomberg reported.

New York -- J.C. Penney Co. has hired Brandon Tonniges, a former Abercrombie & Fitch Co. executive, as director of visual merchandising, Bloomberg reported.

Tonniges was a VP in Abercrombie’s “brand senses” division, described on the chain’s website as the “creative force” behind its store experience, according to the report.

Tonniges will report to a VP under Michael Fisher, who was named SVP visual presentation in March.

 

November 14, 2012
Abercrombie and Fitch profit surges in Q3, raises outlook

Abercrombie and Fitch reported net income of $71.5 million for the third quarter, compared with $50.9 million in the year-ago period and beating Wall Street expectations.

Columbus, Ohio -- Abercrombie and Fitch reported Wednesday net income of $71.5 million for the third quarter, compared with $50.9 million in the year-ago period and beating Wall Street expectations. The retailer is forecasting annual earnings above analysts’ estimates.

Revenue rose 9% to $1.17 billion, boosted by a 37% rise in international sales. Same-store sales dipped 3%.

 

September 21, 2012
Around the World

Abercrombie & Fitch understands that the key to international branding is to deliver a consistent store experience across the globe.

By adopting an open operating platform and integrated point-of-sale infrastructure, the company is able to centrally manage all business operations, including supply chain, inventory management and POS processing, across international borders. The retailer’s international stores now garner close to $1 billion in sales.

September 12, 2012
Report: Abercrombie hires Goldman Sachs

Abercrombie & Fitch Co. has hired Goldman Sachs Group Inc. in the wake of investor pressure, according to Reuters.

New York -- Abercrombie & Fitch Co. has hired Goldman Sachs Group Inc. in the wake of investor pressure, according to Reuters.

The report was based on a source familiar with the matter who did elaborate on the nature of the pressure was or name the investors. But CNBC tweeted that Goldman was hired to help keep activist Relational Investors at bay.

 

August 15, 2012
Abercrombie & Fitch Q2 profit plummets 52%; to open fewer Hollisters than planned

Abercrombie & Fitch reported that net income in the second quarter slid 52% to $15.5 million, compared with $32 million in the year-ago period.

New Albany, Ohio -- Abercrombie & Fitch reported Wednesday that net income in the second quarter slid 52% to $15.5 million, compared with $32 million in the year-ago period.

Total sales rose 4% to $951.4 million, missing Wall Street’s forecast of $954.9 million, and U.S. sales fell 5%. The retailer said Wednesday it is cutting its 2012 earnings guidance and will open fewer international Hollister stores in fiscal 2012 than initially planned.
 

July 11, 2012
Report: Abercrombie planning big share buyback; cutting back on expansion in Europe

Abercrombie & Fitch plans a big share buyback to appease investors, the New York Post reported, and is also likely to cut back on its aggressive expansion plans in Europe.

New York -- Abercrombie & Fitch plans a big share buyback to appease investors, the New York Post reported, and is also likely to cut back on its aggressive expansion plans in Europe.

The report, which quoted unnamed “insiders,” said the chain is likely to announce its plans on or before its next quarterly earnings report in mid-August.

May 16, 2012
Abercrombie Q1 profit down 88%, hurt by 'difficult' European market

Abercrombie & Fitch Co. reported a 88% decline in its first quarter profit, hurt in part by difficult market conditions in Europe.

New Albany, Ohio -- Abercrombie & Fitch Co. reported a 88% decline in its first quarter profit, hurt in part by difficult market conditions in Europe.

For the quarter ended April 28, retailer earned $3.0 million compared with $25.1 million last year. Sales rose 10% to $921.2 million, but same-store sales were down 5%.

March 8, 2012
Abercrombie & Fitch to face class-action suit on gift cards

Abercrombie & Fitch Co. was ordered by U.S. District Judge Gary Feinerman in Chicago to answer a class-action lawsuit by shoppers who claimed the retailer voided holiday gift cards that said they had "no expiration date," Reuters reported.

New York City -- Abercrombie & Fitch Co. was ordered by U.S. District Judge Gary Feinerman in Chicago to answer a class-action lawsuit by shoppers who claimed the retailer voided holiday gift cards that said they had "no expiration date," Reuters reported.

In December 2009, Abercrombie ran a promotion in which it issued nearly 200,000 gift cards valued at $25 each to shoppers who spent at least $100 on a single purchase.

February 16, 2012
Abercrombie & Fitch closing 180 U.S. stores by 2015

Abercrombie & Fitch CEO Mike Jeffries told analysts during a conference call Wednesday that the teen retailer would close 180 U.S. stores by 2015.

New Albany, Ohio -- Abercrombie & Fitch CEO Mike Jeffries told analysts during a conference call Wednesday that the teen retailer would close 180 U.S. stores by 2015.

The chain will target underperforming locations for closure, and by shuttering them hopes to boost image and profits. Specific stores slated for closure have not yet been announced.

February 15, 2012
Abercrombie & Fitch Q4 profit falls 80% on holiday promotions, flat sales

Margin squeezes and flagging same-store sales hurt Abercrombie & Fitch Co.’s fourth quarter profit dropped nearly 80% drop, to $19.6 million from $92.6 million a year earlier, amid margin squeezes and flat same-store sales.

New Albany, Ohio -- Margin squeezes and flagging same-store sales hurt Abercrombie & Fitch Co.’s fourth quarter profit dropped nearly 80% drop, to $19.6 million from $92.6 million a year earlier, amid margin squeezes and flat same-store sales.

January 17, 2012
Abercrombie & Fitch taps IBM to expand online business

IBM announced that Abercrombie & Fitch Co. is working with IBM software to help the company transform its online business to achieve greater speed and efficiency.

Armonk, N.Y. -- IBM announced that Abercrombie & Fitch Co. is working with IBM software to help the company transform its online business to achieve greater speed and efficiency. The initiative is part of Abercombie's strategic goal to expand its direct-to-consumer capabilities and drive its e-commerce business to $1 billion.

November 16, 2011
Abercrombie Q3 profit misses Street

Abercrombie & Fitch earnings rose 1.7% in the third quarter, well short of analysts’ estimates, as rising costs pressures offset a big jump in sales.

New Albany, Ohio -- Abercrombie & Fitch earnings rose 1.7% in the third quarter, well short of analysts’ estimates, as rising costs pressures offset a big jump in sales.

For the quarter ended Oct. 30, the chain reported $50.9 million in earnings, up from $50 million in the same period last year. Total sales rose 21% to $1.08 billion, more or less in line with Wall Street estimates.

Total international sales including e-commerce rose 56% to $255.7 million. In the United States, sales rose 14% to $820.2 million.
 

August 17, 2011
Abercrombie & Fitch profit jumps 64%, offers money to ‘Situation’ to stop wearing A&F clothing

Abercrombie & Fitch Co. reported Wednesday that profit for the second-quarter rose 64% to $32 million, up from $19.5 million, on increased demand in the United States and Europe.

New Albany, Ohio -- Abercrombie & Fitch Co. reported Wednesday that profit for the second-quarter rose 64% to $32 million, up from $19.5 million, on increased demand in the United States and Europe.

Revenue rose 23% to $916.8 million, as previously reported, and same-store sales increased 9%.

May 18, 2011
Abercrombie & Fitch surprises with big swing to profit in Q1

Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.

New Albany, Ohio -- Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.

As previously reported, revenue rose 22% to $837 million, helped by a 64% surge in international revenue.

April 25, 2011
Abercrombie & Fitch’s CEO compensation package down 38%

The chairman and CEO of Abercrombie & Fitch Co. received a pay package worth $22.5 million, down 38% from last year, mostly because of a reduction in option awards, according to an analysis by The Associated Press.

New York City -- The chairman and CEO of Abercrombie & Fitch Co. received a pay package worth $22.5 million, down 38% from last year, mostly because of a reduction in option awards, according to an analysis by The Associated Press.

Jeffries, 66, received a base salary of $1.5 million and a performance-based bonus of $2.3 million, according to a filing with the Securities and Exchange Commission.

He received option awards worth $14.1 million on the date they were granted, down 58% from the prior year.

March 23, 2011
Abercrombie & Fitch goes with Accertify for fraud prevention platform

Accertify, a provider of software, tools and strategies for preventing fraud and a subsidiary of American Express, announced that Abercrombie & Fitch has implemented its Interceptas fraud prevention platform to enhance the retailer's ability to protect against credit card fraud in its direct-to-consumer business.

Chicago -- Accertify, a provider of software, tools and strategies for preventing fraud and a subsidiary of American Express, announced that Abercrombie & Fitch has implemented its Interceptas fraud prevention platform to enhance the retailer's ability to protect against credit card fraud in its direct-to-consumer business.

February 14, 2011
Fire damages Abercrombie & Fitch’s New York flagship

Abercrombie & Fitch’s flagship store on Fifth Avenue in New York City will be temporarily closed after a two-alarm fire damaged the building.

New York City -- Abercrombie & Fitch’s flagship store on Fifth Avenue in New York City will be temporarily closed after a two-alarm fire last night damaged the building.

More than 25 units and 125 firefighters responded to the blaze, which began about 11 p.m. local time last night.

July 7, 2010
A&F store with bedbugs reopens

An Abercrombie & Fitch store in Manhattan that was closed on Friday because of bedbugs...

July 7, 2010
A&F store with bedbugs reopens

An Abercrombie & Fitch store in Manhattan that was closed on Friday because of bedbugs...