Abercrombie & Fitch Store Closures Hit Q1 Sales

by MR Magazine Staff

Abercrombie & Fitch Co. on Wednesday reported that first quarter net sales were essentially flat, rising slightly to $734 million from $731 million in the year-ago quarter. Net sales at the flagship fell 1% to $306 million as net sales at its lower-priced Hollister brand rose 1% to $428 million, according to a company press release. Overall store comps rose 1%, compared to last year’s 5%. At the flagship Abercrombie & Fitch brand, which also includes its kids banner, comps rose 1% (a return to positive) as Hollister comps rose 2%, the company also said. Read more at Retail Dive.