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US apparel retailer Abercrombie & Fitch's digital sales grow 8% in Q3

30 Nov '21
2 min read
Pic: Abercrombie & Fitch
Pic: Abercrombie & Fitch

Abercrombie & Fitch, a US-based specialty retailer of apparel and accessories, has reported a 10 per cent sales increase to $905.1 million in the third quarter (Q3) of FY21 ended on October 30, 2021, against the sales of $819.6 million in the same period of the previous fiscal. Digital sales for the three-month period advanced 8 per cent to $413 million representing 46 per cent of the total sales.
 
“The start of the holiday season has been promising. Customers have come out early to shop and have been responding well to assortments,” Fran Horowitz, chief executive officer at Abercrombie & Fitch, said in a press release.
 
By brand, sales of Hollister which includes Hollister, Gilly Hicks and Social Tourist brands, went up by 10 per cent to $522.3 million ($476.6 million). While Abercrombie brand including the Abercrombie & Fitch and abercrombie kids brands increased by 12 per cent to $382.8 million.
 
Regionally, US emerged as the biggest market for the company with sales of $654.8 million ($557.8 million), up by 17 per cent over Q3 FY20. However, sales from EMEA dropped by 6 per cent to $179.1 million ($190.2 million) and APAC recorded a dip of 12 per cent in sales to $38.2 million ($43.6 million). International sales for the quarter fell by 4 per cent to $250.3 million ($261.8 million).
 
The American retail firm’s gross profit during the third quarter totalled to $576.2 million ($524.4 million), while operating income expanded to $72.7 million ($58.6 million).
 
“We continue to actively manage through ongoing supply chain constraints, including production and delivery delays and elevated costs, and are confident that we have the product, marketing voice and omnichannel experience to surprise and delight new and existing customers throughout the fourth quarter,” Horowitz concluded.

Fibre2Fashion News Desk (JL)

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