Abercrombie & Fitch forecasts better results | RetailDetail

Abercrombie & Fitch forecasts better results

Abercrombie & Fitch forecasts better results

American clothing company Abercrombie & Fitch has stated it expects results for its second quarter will be better, with marked improvements with Hollister already.

Image changes

"While our turnaround won’t be accomplished overnight, we believe the changes we are making will reinvigorate our iconic brands and lead to meaningful and lasting improvement", temporary CEO Arthur Martinez said.

 

In the first quarter of 2015, Abercrombie & Fitch's net turnover dropped 14 % to 709.4 million dollars (649.7 million euro), while its like-for-like turnover also dropped 8 % - which was still an improvement on the expected 8.7 % drop.

 

The company had to take a 23.7 million dollar (21.6 million euro) loss last year, but that has grown to 63.2 million dollars (57.9 million euro) in the first quarter of 2015.

 

Abercrombie & Fitch had already announced it would no longer create sexy ad campaigns and that it would alter its stores' design. The company's brands are losing appeal with its younger audience and is therefore looking for a new approach.

Questions or comments? Please feel free to contact the editors


Ahold Delhaize launches digital lab in the United States

22/05/2018

Ahold Delhaize’s American division will found a new company focused on digital innovation: Peapod Digital Labs will become a lab for new digital, eCommerce and personalization strategies. 

Carrefour forced to shut down hundreds of Dia stores

22/05/2018

Carrefour has not found a buyer for hundreds of its former Dia stores in France yet. That may force nearly 230 stores to shut down.

Carrefour and Tencent launch high-tech store in Shanghai

22/05/2018

The recently launched ‘Le Marché’ store formula, a first collaboration between Carrefour and Tencent, allows customers to pay with face recognition at unmanned checkouts.

Hoegaarden moves part of production to Vietnam and China

18/05/2018

Hoegaarden experiences strong growth in Asia, but is losing ground in Europe. That is why AB InBev will move part of the production to China and Vietnam: the brewery in Hoegaarden will lower cut its production days by 2 a week.

Holland & Barrett wants vegan stores

17/05/2018

British health chain Holland & Barrett (previously known in the Benelux as Essenza) plans to open completely vegan stores, a trend the chain needs to follow according to CEO Peter Aldis.

Nestlé on a diet: cuts back sugar, fat and salt levels

17/05/2018

Nestlé wants to lower its sugar, salt and fat levels to play into the global demand for healthier food.