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Q4FY17 sales down 7% at Abercrombie & Fitch
Mar '17
For the three months ended January 28, 2017, net sales at $1.036 billion were down 7 per cent year on year at clothing retailer Abercrombie & Fitch, while comparable sales for the reporting quarter too were down 5 per cent. By brand, net sales dropped 13 per cent for Abercrombie and declined 2 per cent at Hollister, both falling over a fiscal ago quarter.

The gross profit margin for the fourth quarter of fiscal 2017 stood at 59.3 per cent, while excluding certain items from last year, the gross profit margin dipped 90 basis points on a constant currency basis.

The retailer posted GAAP net income per diluted share of $0.71 for the quarter under review, compared to GAAP net income per diluted share at $0.85 for the fourth quarter of previous fiscal.

According to Abercrombie, the net effect of changes in foreign currency exchange rates on a year-over-year basis adversely impacted fourth quarter by approximately $0.05. (AR)

Fibre2Fashion News Desk – India

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