Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
Growing Internet revenue of 45.3% capped off a strong sales performance in March for Abercrombie & Fitch Co.
Growing Internet revenue capped off a strong sales performance in March for Abercrombie & Fitch Co.
For the five weeks ended April 3, Abercrombie & Fitch, No. 58 in the Internet Retailer Top 500 Guide, recorded:
- An increase in Internet revenue, which Abercrombie calls direct-to-consumer sales, of 45.3% to $27.9 million from $19.2 million in March 2009. For the first three months of 2010, e-commerce sales increased 38.2% to $45.6 million from $33.0 million in the prior year.
- Total sales in March increased year over year 19.1% to $275.4 million from $231.3 million in the previous year. For the first three months of 2010, total sales increased 17.6% to $473.4 million from $402.6 million.
- International sales increased 112.0% to $45.8 million from $21.6 million in March 2009. For the period of January through March 2010, international sales grew 106.5% to $79.1 million from $38.3 million.
- March comparable-store sales increased 5%.