×
289
Fashion Jobs
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · MIRYALAGUDA
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KOTHAGUDEM
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · NAGARKURNOOL
LIFESTYLE BRANDS
Area Sales Manager Bangalore
Permanent · BENGALURU
HIRING STUDIO
Chief Financial Officer
Permanent · HOSAPETE
RJ CUBE STAFFING SOLUTIONS
Storekeeper
Permanent · DELHI
ORIENT CRAFT LTD.
Production Incharge
Permanent · NEW DELHI
GETNATTY DESIGNTECH PVT. LTD
Business Development & Sales Specialist
Permanent · MUMBAI
CONSULT IN INDIA
Area Sales Manager- (South & West Region)
Permanent · Kota
ADECCO INDIA PRIVATE LIMITED
e Commerce Executive :Garments Company:Kolkata
Permanent · Kolkata
NCDI PLACEMENT CONSULTANCY
Sales Coordinator (Male) For Leading Retail Store
Permanent · Lucknow
2COMS CONSULTING PVT LTD.
Area Sales Manager Knitwear/ Innerwear
Permanent · Mumbai
SEARCHLIGHT HR SERVICES PVT. LTD
Sales Manager- Fragrances
Permanent · Chennai
KEYSTONE CONSULTING PVT LTD
Business Development - Textile Company
Permanent · Coimbatore
JOB SEARCH
General Manager - Mumbai & Delhi Exp in Textile Testing Industry Only
Permanent · National Capital Region
CAREER CROSSWAYS
Export Marketing Manager
Permanent · Ahmedabad
TEJASWI SERVICES PVT LTD
Business Development Executive
Permanent · Mumbai
FABRIC AID INDIA PVT LTD
Accounts Manager
Permanent · National Capital Region

Abercrombie & Fitch misses quarterly same-store sales estimates, shares fall

By
Reuters
Published
today May 30, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Abercrombie & Fitch Co missed Wall Street estimates for quarterly same-store sales due to slowing demand for its surf-themed Hollister apparel and forecast second-quarter sales below estimates on Wednesday, sending its shares down over 17%.


Abercrombie forecast second-quarter net sales to be flat to up 2%



Hollister has been a bright spot for the company over the last few years as its more casual and fun apparel hooked in younger shoppers, who had previously abandoned the company’s flagship brand, Abercrombie, after its logo-emblazoned tees fell out of fashion.

However, the company’s most recent results showed that demand for Hollister was weakening, with its same-store sales rising just 2% in the three months ended May 4, missing the average analyst estimate of a 3.3% increase, according to Refinitiv IBES data.

A year ago Hollister’s quarterly same-store sales rose 6%.

Overall same-store sales in the first quarter rose 1%, below estimates of a 1.33% increase.

Abercrombie forecast second-quarter net sales to be flat to up 2%, below estimates of a 2.8% increase. The company blamed its disappointing forecast on a $10 million hit from a stronger dollar.

The company also said it would close three more flagship stores, including a Hollister store in SoHo.

Net sales rose to $734 million from $730.9 million. Analysts had expected net sales of $733.4 million.

© Thomson Reuters 2019 All rights reserved.