American youth fashion brand company Abercrombie & Fitch (Abe Clomb & Fitch, hereinafter referred to as A&F) announced key financial data for the first quarter of FY 2019. Due to the slowdown in sales of comparable retailer Hollister, the analysts did not meet analysts' expectations. The Group's second-quarter sales forecast was also slightly lower than previously expected. A&F shares fell 26.47% to close at 18.39 US dollars per share.
In recent years, A&F Group has made great efforts to turn losses into profits by investing in new stores, closing loss-making stores, optimizing product categories, and adjusting marketing strategies. The relaxed and interesting design of its fashion brand Hollister also helped the group attract a lot of young consumers to make up for the loss of consumers due to the outdated flagship brand Abercrombie & Fitch.
According to the financial data released this time, Hollister's comparable store sales increased by 2% year-on-year, which was lower than the analyst's average estimate of 3.33%. In the same period last year, Hollister's comparable store sales increased by 6% year-on-year.
This phenomenon has caused investors to panic about the Dicount Codes decline in demand in the Hollister market. Gabriela Santaniello, an analyst at market research firm A line Partners, said that in recent years, Hollister has performed extremely well and has become the main brand of the A&F Group. Investors have high expectations for Hollister. As a result, the slower growth in comparable store sales has sparked investor vigilance.
Currently, the A&F Group has 873 stores worldwide, 16 of which are franchise stores.
As of the first quarter of the fiscal year ending May 4, the key financial data of the Abercrombie & Fitch Group are as follows:
Sales were $734 million, which was basically the same as last year's $731 million, slightly higher than analysts' expectations of $733 million.
Comparable store sales increased by 1% year-on-year, lower than analysts' expectations of 1.33%
Net loss narrowed to $19.12 million, compared with a net loss of $42.5 million in the same period last year
Diluted net loss per share was $0.29, better than analysts' net loss of $0.43 per share, compared with a net loss per share of $0.62 in the same period last year.
By brand:
Hollister sales increased 1% year-on-year to US$ 428 million, accounting for 58.4% of total sales; comparable store sales increased 2% year-on-year, less than analysts' expectations for a 3.33% year-on-year increase
Abercrombie & Fitch sales fell 1% year-on-year to $306 million, accounting for 41.6% of total sales
By market:
US sales increased 6% year-on-year to $470 million, accounting for 64% of total sales
International market sales fell 6% year-on-year to $264 million, accounting for 36% of total sales.
留言列表
