Abercrombie reported a 14% decline in same store sales and a 7% decrease in total sales for the month of September 2008 as the U.S. retail market struggled.
Abercrombie announced that the company saw net sales increase 8% during the fourth quarter to $1.2 billion, while same store sales decreased 1% during the quarter company-wide. For the full fiscal 2007 year the company generated $3.75 billion in sales, a 13% increase from the prior year. However, same store sales decreased 1% for the year.
ANF unveiled its newest in-house concept, Gilly Hicks, to investors in an upscale mall in Natick, Massachusetts on January 21. The new Gilly Hicks concept currently has a website that features a risque video of topless women and nude men frolicking on a beach wearing either nothing or underwear. The website also includes the locations where the first Gilly Hicks stores will open in 2008. The Gilly Hicks concept is expected to be focused on intimate apparel and undergarments, mostly for women.
ANF reported a decrease of 2% in comparable store sales and an increase of 9% in net sales. Female apparel sales were notably weak as were Ruehl's comps, which decreased 22%.
ANF announced that sales for the third quarter of fiscal 2007 increased 13% from the same quarter of FY06, while operating income increased 15%.
Abercrombie and Fitch reported that same-store sales for September were down 4% due to less sales in women and children's clothing.
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