fashion

Abercrombie & Fitch Q3 net sales up 10 percent


Abercrombie & Fitch Co. net sales of 905 million dollars, up 10 percent as compared to last year and up 5 percent as compared to pre-Covid 2019 third quarter net sales. Digital net sales of 413 million dollars, increased 8 percent compared to last year and 55 percent as compared to pre-Covid 2019 third quarter digital net sales.

Commenting on the third quarter trading, Fran Horowitz, the company’s chief executive officer, said: “Total net sales grew 10 percent or 5 percent from 2019 levels. Our largest market, the U.S., experienced ongoing strength, growing 17 percent on a one-year and 12 percent on a two-year basis. The start of the holiday season has been promising.”

Gross profit rate of 63.7 percent, down approximately 30 basis points as compared to last year and up approximately 360 basis points as compared to 2019. Operating income was 73 million dollars and 79 million dollars on a reported and adjusted non-GAAP basis, respectively, compared to 59 million dollars and 65 million dollars last year, on a reported and adjusted non-GAAP basis, respectively.

Net income per diluted share was 77 cents and 86 cents on a reported and adjusted non-GAAP basis, respectively, as compared to net income per diluted share last year of 66 cents and 76 cents on a reported and adjusted non-GAAP basis, respectively.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more