August 18, 2010, 5:24 PM

Web sales rise at Abercrombie & Fitch

Online sales jumped to $69 million in the second quarter.

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Specialty apparel retailer Abercrombie & Fitch Co.’s web sales jumped 50% in the second quarter as the company reported a $19.5 million profit.

For the quarter ended July 31, Abercrombie, No. 65 in the Internet Retailer Top 500 Guide, recorded:

  • Web sales for Abercrombie, the company says, increased 50% in the second quarter to $69.0 million. The company, however, didn’t provide an exact web sales figure for the second quarter of 2009 that excludes discontinued operations of its Ruehl brand. Abercrombie reported last year Q2 2009 web sales of $48.7 million, including Ruehl.
  • Internet Retailer calculates the web accounted for 9.3% of total sales compared with 7.6% last year.
  • Total sales grew 17.0% to $745.8 million from $637.2 million in the previous year. 
  • Comparable-store sales increased 5%.
  • Net income was $19.5 million compared with a net loss of $26.7 million in the prior year.

During a conference call with analysts, CEO Mike Jeffries noted that the retailer was pleased with its online growth. “We want to sustain that growth going forward and are taking steps to do that, including adding resources, upgrading and expanding our platforms and continuing to allocate more inventory to direct-to-consumer,” he said.

For the first half of 2010, the retailer reported:

  • Web sales increased 40.9% to $137.8 million from $97.8 million in actual sales filed a year ago.
  • Total sales grew 16.7% to $1.4 billion from $1.2 billion in the previous year. 
  • Comparable-store sales increased 5%.
  • Net income was $7.7 million compared with a net loss of $85.9 million in the prior year.
  • Internet Retailer calculates the web accounted for 9.8% of total sales compared with 8.2% the same as the prior year.
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