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Abercrombie Fitch profit sales decline



Abercrombie & Fitch Co. has seen a decline in its quarterly profit figure.

This comes after low demand for its namesake and Hollister brands, a strong dollar and discounts.

The company saw a decline in its net income to $44.4m from $66.1m the previous year, or 63 cents per share from 85 cents per share the previous year.  Net sales declined by 14% to $1.121m, with a 10% reduction in total comparable sales.

This has been a tough year for Abercrombie, but the company has made the decision that it will phase out the logos placed on its clothing in a bid to try and regain the lucrative teen market.  

According to Arthur Martinez, the executive chairman of Abercrombie & Fitch, the company has clear priorities for 2015. These include improving comparable sales, both in the US and internationally.

They also intend making further investments in their omni-channel and DTC business.  Above all, they need to reduce expenditure and become more efficient.  The company is expecting a challenging 2015 first-half, but believes that there will be an improvement during the second half of the year.

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