Thursday, August 30, 2018

Hollister disappoints as execs reiterate brick-and-mortar plan

Retail Dive
Abercrombie & Fitch Co. on Thursday reported second quarter net sales rose 8% to $842.4 million, driven by a calendar shift and positive comparable sales. That missed the average analyst forecast cited by Reuters for $845.2 million. The company's 3% rise also missed the Thomson Reuters I/B/E/S average analyst​ expectation for a 3.7% boost.

By brand, comps rose 4% and sales reached $500.8 million at Hollister, missing analyst expectations for a 5.3% increase. Comps rose 2% and sales reached $341.6 million at Abercrombie, according to a company press release. Direct-to-consumer net sales rose 16% from last year to $216.4 million and were about 26% of total net sales for the quarter, compared to about 24% last year.. . . more