The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
After months of declining web sales, e-commerce revenue ticked upward for specialty apparel retailer Abercrombie & Fitch in the third quarter.
After months of declining web sales, e-commerce revenue ticked upward for specialty apparel retailer Abercrombie & Fitch Co. in the third quarter.
For the quarter ended Oct. 31:
- Web sales increased 11.1% to $63.9 million from $57.5 million. Increased international sales were a contributing factor, the company says.
- Total revenue declined 14.6% to $765.4 million from $896.3 million.
- Comparable-store sales declined 22%.
- The web accounted for 8.3% of total sales compared with 6.4% in the prior year.
- Net income was $38.7 million compared with $63.9 million in the previous year.
For the first three quarters:
- Web sales decreased 8.1% to $161.7 million from $175.9 million.
- Total revenue declined 20.5% to $2.02 billion from $2.54 billion.
- Net loss was $47.2 million compared with net income of $203.8 million in the previous year.