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.
Related shopping malls and stores:
11 MARCH 2015, USA
Apple plans to revamp or relocate 53 stores within four years
Patagonia sues Nordstrom, claiming counterfeit sales at Rack
Ikea owner expands portfolio with acquisition of software maker Made4net
Aviator Nation opens its first store on the East Coast
Sainsbury's develops Neighbourhood Hub store chain
The world's top 25 retailers earned $3.5 trillion in 2022
Adidas gears up for the release of Yeezy merchandise 
Skims unveils spectacular summer pop-up store in New York City 
Starbucks makes its debut in Rome with new coffee shop opening 
Century 21 reopens flagship department store in Manhattan 
Birchbox assets acquired by Retention Brands in strategic move