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Abercrombie & Fitch same-store sales down
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)
