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Wednesday, August 19, 2009 |
Abercrombie & Fitch sales fall in Q2, but web takes lightest hit
Abercrombie & Fitch Co.’s second quarter sales declined across the board.
- Q2 e-commerce sales were $48.7 million, a 13% decline from $55.9 million in the second quarter of 2008.
- Total sales decreased 23% to $648.5 million from $845.8 million in Q2 of 2008.
- Q2 comparable store sales decreased 30%.
- For the second quarter the web accounted for 7.5% of sales compared with 6.6% in the prior year quarter for the youth apparel retailer, which is No. 58 in the Internet Retailer Top 500 Guide.
- Net loss for Q2 was $26.7 million compared with net income of $77.8 million in the prior year quarter.
For the first six months of fiscal 2009 ended Aug. 1, Abercrombie reports:
- E-commerce sales were $97.8 million, a 17.4% decrease from $118.4 million through six months of fiscal 2008.
- Total sales were $1.26 billion, down by 23.2% from $1.64 billion in the prior year period.
- The web represented 7.8% of sales versus 7.2% in the first half of 2008.
The Q2 web sales decline was less severe than in the first quarter when online sales fell 21.4% to $49.1 million from $62.5 million in Q1 of 2008. Two e-mail campaigns in the second quarter contributed to the reduced sales decline, vice president of finance Brian Logan told Wall Street analysts during the company’s recent earnings call.
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