A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
Internet sales increased year over year 27.4% to $81.4 million.
Web sales at Abercrombie & Fitch Co. trended higher in the third quarter at a healthy rate.
For the third quarter ended Oct. 30, Abercrombie, No. 65 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased year over year 27.4% to $81.4 million from $63.9 million.
- Total sales grew 17.5% to $885.8 million from $753.7 million in the third quarter of 2009.
- Comparable-store sales increased 7%.
- Net income increased 28.9% to $50.0 million from $38.8 million.
“Our domestic business has continued to improve and our direct-to-consumer business is posting very strong growth,” says CEO Mike Jeffries.
Internet Retailer calculates the web accounted for 9.2% of total sales compared with 8.5% in the third quarter of 2009.
For the first nine months:
- Abercrombie did not break out year-to-date web sales. Based on figures previously released for each quarter, Internet Retailer calculates web sales increased year over year 35.6% to $219.2 million from $161.7 million in the first three quarters of 2009.
- Total sales grew to 16.1% to $2.31 billion from $1.99 billion.
- Net income was $57.7 million compared with a net loss of $47.2 million in the first three quarters of 2009.
Internet Retailer calculates the web accounted 9.5% of total sales compared with 8.1% in the prior year.