Home / Knowledge / News / Apparel/Garments / Abercrombie & Fitch CEO pleased with Q3 performance
Abercrombie & Fitch CEO pleased with Q3 performance
23
Nov '10
Abercrombie & Fitch Co reported unaudited results which reflected net income of $50.0 million and net income per diluted share of $0.56 for the thirteen weeks ended October 30, 2010, compared to a net income of $38.8 million and net income per diluted share of $0.44 for the thirteen weeks ended October 31, 2009.

Net income for the thirteen weeks ended October 31, 2009 included a benefit of $0.21 per basic and diluted share associated with the true up of the year-to-date tax rate and a net loss per basic and diluted share of $0.12 from discontinued operations.

Third Quarter Sales Highlights

• Total Company net sales, including direct-to-consumer net sales, increased 18% to $885.8 million
• Total Company domestic net sales, including direct-to-consumer net sales, increased 8% to $721.7 million
• Total Company international net sales, including direct-to-consumer net sales, increased 87% to $164.1 million
• Comparable store sales increased 7%
• Total Company direct-to-consumer net merchandise sales increased 32% to $81.4 million
• Abercrombie & Fitch net sales of $384.0 million; Abercrombie & Fitch comparable store sales increased 8%
• abercrombie kids net sales of $99.9 million; abercrombie kids comparable store sales increased 2%
• Hollister Co. net sales of $392.5 million; Hollister Co. comparable store sales increased 7%

Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said:

"We are pleased with our performance against our objectives for the quarter, and remain very excited about the opportunities ahead of us across all areas of our business. Our domestic business has continued to improve, our international results are outstanding, and our direct to consumer business is posting very strong growth."

The Company continues to expect to open approximately 20 international mall-based Hollister stores in Fiscal 2010, 11 of which will be opened in the fourth quarter. Since the beginning of the fourth quarter, the Company has opened Abercrombie & Fitch flagships in Fukuoka, Japan and Copenhagen, Denmark and will also open its first international Gilly Hicks store in the United Kingdom during the quarter.

The Company also expects to open its first Abercrombie & Fitch store in Puerto Rico, a Hollister Epic store on 5th Avenue in New York and one domestic Gilly Hicks store during the fourth quarter.

The Company now expects total capital expenditures to be approximately $190 million, including approximately $140 million related to new stores, store refreshes and remodels, and approximately $50 million related to information technology, distribution center and other home office projects.

The Board of Directors declared a quarterly cash dividend of $0.175 per share on the Class A Common Stock of Abercrombie & Fitch Co. payable on December 14, 2010 to shareholders.

Abercrombie & Fitch Co


Must ReadView All

Courtesy: American & Efird

Textiles | On 20th May 2018

A&E introduces Repel

American & Efird (A&E), a global leader in industrial sewing thread...

Archroma working with House of Denim Foundation

Textiles | On 20th May 2018

Archroma working with House of Denim Foundation

Archroma, a leader in colour and specialty chemicals, has joined...

Courtesy: Amazon

Textiles | On 20th May 2018

Amazon opening first fulfillment centre in Tucson

Amazon.com is opening its first fulfillment centre in Tucson, which...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search