fashion guide

Abercrombie & Fitch fell 31% in the fourth quarter of profit
Clothing retailer abercrombie and fitch (ANF) said fourth-quarter profit fell 31 percent, partly due to: Close Ruehl store-related expenses impact.

However, the abercrombie and fitch's performance is still better than market expectations, mainly due to domestic and overseas operations continued to improve.

abercrombie clothing with its academic style and is known for high prices, economic downturn, as consumers cut back on essential items and seek bargains to buy, abercrombie and fitch's performance has been compromised. However, as the economy improved, abercrombie and fitch's business seems to gain some momentum.

Earlier this month, abercrombie and fitch company reported better-than-expected January sales, same store sales increased 8%, is the key figure since April 2008 the first monthly rise since.

As of January 30, abercrombie and fitch net profit from a year earlier, the 68.4 million U.S. dollars, 78 cents a share, down 47.5 million U.S. dollars, 53 cents a share.

Ruehl stores and closed less related expenses, and other one-time items, abercrombie and fitch quarter profit of 91 cents per share, higher than analysts polled by Thomson Reuters on average expected 87 cents.

Last year in June, abercrombie and fitch board of directors authorizing the closure of its 29 Ruehl stores and related businesses directly to consumers. The brand's close was the fourth quarter.

Quarterly revenue declined 5% from last year's 981 million U.S. dollars over the same period fell to 936 million U.S. dollars, lower than analyst expectations of 954 million U.S. dollars.

abercrombie and fitch U.S. sales fell 12%, international revenue growth of 86%.

Chairman and CEO Mike Jeffries said in a statement, abercrombie and fitch year plan to expand its overseas business, and focus on boosting domestic profitability.

In the fourth quarter, abercrombie and fitch's same-store sales fell 13%.

abercrombie and fitch a brand same store sales have declined. Hollister which fell 19%, abercrombie kids 11%, the same name as the Abercrombie brand fell 8%.

2010, abercrombie and fitch plans to open a namesake store in Copenhagen, Denmark, and open another one in Fukuoka, Japan. abercrombie and fitch company also expects to open a Hollister Epic in the New York store, opened in overseas shopping center about 30 Hollister stores.

This news first published by incoolstyle.com (abercrombie and fitch store) on September 19, 2010.

Source from: www.incoolstyle.com