Thursday, May 28, 2020

Abercrombie & Fitch Q1 loss widens, sales dive amid temporary store closings

Chain Store Age
Abercrombie & Fitch Co. reported earnings and sales that missed expectations as its stores remained dark due to the COVID-19 crisis. But business is picking up as its stores to reopen.

“With stores reopening in the U.S. and the EMEA regions, we have experienced sales productivity for reopened stores of approximately 80% and 60%, respectively, as compared to last year’s levels,” stated CEO Fran Horowitz. (As of May 28, about half of Abercrombie’s global store base has reopened.) . . . more