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Web sales boomed 42% for specialty apparel retailer Abercrombie & Fitch Co. in the first quarter, but the company is still working to regain profits. Total sales grew 14.3% while comparable-store sales rose 1%.
Web sales boomed for specialty apparel retailer Abercrombie & Fitch Co. in the first quarter, but the company is still working to regain profits.
For the quarter ended May 1, Abercrombie, No. 65 in the Internet Retailer Top 500 Guide, recorded:
- Web sales increased 41.9% to $68.8 million from $48.5 million in the first quarter of 2009.
- Total sales grew 14.3% to $687.8 million from $601.7 million in the previous year.
- Comparable-store sales increased 1%.
- Net loss was $11.8 million compared with a net loss of $59.2 million in the prior year.
"We are pleased with our overall reported sales growth of 14% for the quarter,” says CEO Mike Jeffries. “We continue to be very focused on achieving sustainable, profitable growth in both our domestic and international businesses."
Internet Retailer calculates the web accounted for 10.0% of total sales compared with 8.1% the same as the prior year.