Home / Knowledge / News / Apparel/Garments / abercrombie kids comparable store sales drop
abercrombie kids comparable store sales drop
16
Feb '11
Abercrombie & Fitch Co. reported unaudited results which reflected net income of $47.5 million and net income per diluted share of $0.53 for the thirteen weeks ended January 30, 2010, compared to net income of $68.4 million and net income per diluted share of $0.78 for the thirteen weeks ended January 31, 2009.

Excluding a net loss from discontinued operations and non-cash asset impairment charges, the Company reported non-GAAP net income per diluted share of $0.91 for the thirteen weeks ended January 30, 2010, compared to non-GAAP net income per diluted share of $1.06 for the comparable period last year.

A reconciliation of net income per diluted share on a GAAP basis to net income per diluted share excluding net loss from discontinued operations and non-cash asset impairment charges, a non-GAAP financial measure, is summarized in a table accompanying the Condensed Consolidated financial statements included with this release.

The Company also reported net income of $0.3 million and net income per diluted share of $0.00 for the fifty-two weeks ended January 30, 2010, compared to net income of $272.3 million and net income per diluted share of $3.05 for the fifty-two weeks ended January 31, 2009.

Excluding a net loss from discontinued operations and non-cash asset impairment charges, the Company reported non-GAAP net income per diluted share of $1.12 for the fifty-two weeks ended January 30, 2010, compared to non-GAAP net income per diluted of $3.51 for the comparable period last year.

The Company completed the closure of its RUEHL branded stores and related direct-to-consumer operations during the fourth quarter. Accordingly, the after-tax operating results for Ruehl are included in discontinued operations for all periods presented in the Company's Condensed Consolidated Statements of Income.

Fourth Quarter Sales Highlights – From Continuing Operations

• Total Company net sales, including direct-to-consumer net sales, decreased 5% to $936.0 million

• Total Company domestic net sales, including direct-to-consumer net sales, decreased 12% to $793.1 million

• Total Company international net sales, including direct-to-consumer net sales, increased 86% to $142.9 million

• Comparable store sales decreased 13%

• Total Company direct-to-consumer net merchandise sales were $93.1 million, flat compared to last year

• Abercrombie & Fitch net sales of $398.0 million; Abercrombie & Fitch comparable store sales decreased 8%

• abercrombie kids net sales of $111.8 million; abercrombie kids comparable store sales decreased 11%

• Hollister Co. net sales of $417.1 million; Hollister Co. comparable store sales decreased 19%

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

"Having managed through a very difficult retail environment in 2009 with a long-term mindset of protecting our brands, we look forward to 2010 as we intend to grow the business internationally and improve the profitability of the domestic business."

Click here for more details

Abercrombie & Fitch Co

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search