The Top 500 apparel retailer posts a slight decline in total sales.
Online sales increased 21% year over year in the second quarter for Abercrombie & Fitch Co. as total sales declined slightly. The youth-focused apparel retailer is No. 47 in the Internet Retailer Top 500 Guide.
For the quarter ended Aug. 3, the retailer reported:
• E-commerce sales of $154.3 million, up 20.8% from $127.7 million the same period last year.
• Total net sales of $945.7 million, down 0.6% from $951.4 million.
• Comparable-store sales, which include e-commerce sales, decreased 10%.
• Total U.S. sales, including e-commerce, decreased 7.8% to $597.3 million from $648.0 million.
• Total international sales, including the web, increased 14.8% to $348.4 million from $303.4 million.
• Net income of $11.4 million compared with net income of $17.1 million last year.
"The second quarter was more difficult than expected due to weaker traffic and continued softness in the female business,” says CEO and chairman Mike Jeffries. “Despite the challenging environment, we are very pleased by strong growth in our direct-to-consumer business and continued strong growth in China.”
For the first half of the year, Abercrombie & Fitch did not break out e-commerce sales but reported:
• Total net sales of $1.784 billion, down 4.7% from $1.872 billion last year.
• Net income of $4.17 million compared with a loss of $4.25 million last year.