Abercrombie & Fitch Reports First Quarter Loss of Around $62 Million USD

Yet, the news isn’t as bad it sounds.

Fashion
4,212 Hypes 0 Comments

As Business of Fashion reports, North American retailer Abercrombie & Fitch has reported a first quarter loss of around $62 million USD. News of this latest sales slump is a mixed bag for Abercrombie & Fitch, as the $62 million USD number is seen as a “smaller-than-expected drop.” Currently for sale, Abercrombie & Fitch Co. absorbs a healthy boost from Hollister, the brand responsible for the slight shift and boost in 2017 sales. For its first quarter reports, Hollister brought in a 3 percent rise in same-store sales. Rival retailer American Eagle Outfitters Inc. and Cerberus Capital Management — a United States private equity firm — are reportedly preparing to launch their own bids for Abercrombie & Fitch.

Back in April, we published an in-depth look at the shrinking market and declining sales trends for “mall brands” like Abercrombie & Fitch, Hollister and others. While American Apparel and similar companies are clinging onto life support or entering their final days, retailers like ASOS, H&M and Zara are thriving and reporting healthy numbers.

Read Full Article
Source
Business of Fashion
Image Credit
Kurt Eggering/Selldorf Architects

What to Read Next

G-Eazy Releases "Shake It Up" Featuring E-40, Madeintyo & 24hrs
Music

G-Eazy Releases "Shake It Up" Featuring E-40, Madeintyo & 24hrs

This marks the fifth track he released this week.

glamb's 2018 Fall/Winter Collection Is Filled With Casual Punk-Inspired Fits
Fashion

glamb's 2018 Fall/Winter Collection Is Filled With Casual Punk-Inspired Fits

Shearling jackets, flannels, and more.

De La Hoya Asks for a Boycott of McGregor vs. Mayweather in Open Letter
Sports

De La Hoya Asks for a Boycott of McGregor vs. Mayweather in Open Letter

“Our sport might not ever recover.”


Bones Releases Two New Tracks, "YouMadeYourBed,NowLieInIt" & "TimTheToolmanTaylor"
Music

Bones Releases Two New Tracks, "YouMadeYourBed,NowLieInIt" & "TimTheToolmanTaylor"

The underground artist doubles up on the drop.

Dr. Dre Recalls His First Encounter With Snoop Dogg in HBO's New 'The Defiant Ones' Clip
Music

Dr. Dre Recalls His First Encounter With Snoop Dogg in HBO's New 'The Defiant Ones' Clip

From bachelor party beginnings to making history in the studio.

Terrace Martin Announces New Supergroup The Pollyseeds, Shares First Single, “Intentions”
Music

Terrace Martin Announces New Supergroup The Pollyseeds, Shares First Single, “Intentions”

The longtime Kendrick Lamar collaborator debuts his new project.

More ▾
 
Subscribe to our Newsletter

Receive the latest in Footwear, Fashion, Music and Creativity in our newsletters.

By Subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.