Abercrombie reports increased Q1 direct sales

Share this article:

Apparel retailer Abercrombie & Fitch saw overall sales growth and increased direct-to-consumer sales in its fiscal first quarter of 2010. However, the company also reported a net loss of $11.8 million during the quarter, which ended May 1.

Net sales for the first quarter increased 14% year-over-year to $687.8 million. Direct-to-consumer merchandise sales jumped 42% to $68.8 million. However, store sales were slow, inching up 1%.

The company's “10% decrease in average unit retail” was also cited as a factor contributing to its decrease in gross profit year-over-year.

Mike Jeffries, CEO and chairman of the board of Abercrombie & Fitch, said in a statement that the company is “pleased with our overall reported sales growth of 14% for the quarter.”

“We continue to be very focused on achieving sustainable, profitable growth in both our domestic and international businesses,” he said.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions