Wednesday, September 20, 2017

Abercrombie & Fitch post 16th consecutive quarter of decline

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Abercrombie & Fitch has four stores in the UK, out of a global estate of 900.
Abercrombie & Fitch has four stores in the UK, out of a global estate of 900.

American fashion retailer Abercrombie & Fitch has posted a seven per cent decline in sales over the last quarter.

This marks the 16th consecutive quarter of declining sales for the retailer, which also owns Hollister, attributing a challenging retail environment to its continuing struggles.

In the quarter ending January 28, net sales dropped from £900 million to £850 million from the prior three months.

Net income also dropped from £46.97 million to £39.74 million, along with a share price drop of 14 cents per share.

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