Retailers shift their ad spending from TV, radio and print ads to digital ads.
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.