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Abercrombie & Fitch FY19 sales increase to $3.6 billion
06 Mar 20 2 min read
Abercrombie & Fitch, US based lifestyle retailer, reported 3 per cent increased in net sales to $1.18 billion in fourth quarter (Q4) FY19 that ended on February 1, 2020. Net sales for complete fiscal 2019 rose 1 per cent to $3.62 billion. Operating income in the quarter was of $122.3 million compared to $129.7 million in same period prior year.
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"We finished the year on a strong note, with record Black Friday week results contributing to net sales growth and positive comparable sales for the fourth quarter, and for the third consecutive year. Consistent with recent trends, Abercrombie outperformed Hollister and the US outperformed international, which although still lagging registered significant sequential improvement," Fran Horowitz, chief executive officer, said in a press release.
Operating expense in Q4 FY19 excluding other operating income was $567.9 million. Operating expense for full FY19 excluding other operating income was reported to $2.08 billion included $47 million of flagship store exit charges. Operating income for full FY19 stood at $70.1 million.
Hollister's sales remained flat in both Q4 at $711 million and FY19 at $2.1 billion. While Abercrombie's sales grew 7 per cent in Q4 to $474 million compared to $442 million in same period prior year. FY19 sales of Abercrombie rose 2 per cent to $1.5 billion.
Fourth quarter sales in US increased 5 per cent to $814 million compared to $779 million in same period prior year. US sales grew 4 per cent in FY19 to $2.4 billion. International sales fell 2 per cent to $370 million in Q4 and reduced 4 per cent in FY19 to 1.2 billion.
For fiscal 2020, the company expects net sales to be flat to up 2 per cent, reflecting the estimated adverse impact of Covid-19 in the range of $60 million to $80 million, as reported.
Fibre2Fashion News Desk (JL)
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