• Most Popular
  • Most Shared

Abercrombie & Fitch same-store sales down

NEW YORK
Thu Aug 9, 2007 8:41am EDT

Stocks

   

NEW YORK (Reuters) - Clothing retailer Abercrombie & Fitch Co. (ANF.N) said on Thursday that sales at stores open at least a year fell 4 percent in July, more sharply than analysts had expected, due to a shift in tax-free holidays.

Analysts' on average had forecast a same-store sales decrease of 0.9 percent, according to Reuters Estimates.

The New Albany, Ohio based company, which owns the Abercrombie & Fitch, Hollister and Ruehl chains, said total sales for the four weeks ended August 4 rose 29 percent to $296.4 million.

Sales were strongest in the U.S. North Atlantic region and weakest in the Southwest, Chief Financial Officer Michael Kramer said on a prerecorded call.

The company said same-store sales, a key indicator of retail health, fell 1 percent at its namesake stores, 7 percent at Hollister and 7 percent at Ruehl.

Abercrombie also said it expected second-quarter earnings of 87 cents or 88 cents a share.

(See here -- Reuters' retail and consumer blog)

(Reporting by Aarthi Sivaraman)


More from Reuters

Demonstrator holds a signboard with a slogan "Bla bla bla ACT NOW" during a rally outside the UN Climate Change Conference in Copenhagen December 12, 2009. REUTERS/Christian Charisius

"Polluters are given rights to continue their dirty habits"

A climate change scientist blasts proposals for a cap and trade system, arguing it allows dirty industries to continue polluting, instead of rewarding innovation.  Full Article | Full Coverage 

    Climate Conference
    Federal Reserve Chairman Ben Bernanke is pictured at his Senate Banking, Housing and Urban Affairs Committee hearing on his nomination to continue as Chairman of the Board of Governors, on Capitol Hill in Washington, December 3, 2009. REUTERS/Jason Reed

    No great expectations

    Investors are getting antsy about when the Fed will tighten its purse strings, now that the economy appears to be coming back to life.   Full Article 

    ECONOMY
    Indian woman mourns death of her relative killed in tsunami in Cuddalore. When an earthquake of magnitude 9.15 struck off Indonesia's Aceh province on December, 26, 2004, it triggered a huge tsuanmi that raced across the Indian Ocean and hit Indonesia, Thailand, Sri Lanka and India. The worst natural disaster of the decade left 230,000 people dead or missing. Taken on December 28, 2004 by Arko Datta

    Pictures that defined a decade

    A woman's grief amid the tsunami devastation and one woman's fight against police in the Amazon are among the indelible Reuters images of the last 10 years.  Slideshow 

    Pictures