Abercrombie & Fitch boosted by strong performance at Hollister
Abercrombie & Fitch has reported better than expected first quarter net sales with an 8% uplift to $1.1 billion.
The fashion company saw sales growth across all regions, with an increase of 7% in the Americas, 12% in EMEA and 5% in APAC.
In the three months to 4 May, the company’s performance was driven by the Hollister brand where sales climbed by 22% to mark its best ever first quarter net sales. However, sales within Abercrombie brands declined by 4% compared to an increase of 31% at the same time last year.
Profitability exceeded the company’s outlook with an operating margin of 9.3%.
Fran Horowitz, Abercrombie & Fitch chief executive, said: “As we navigate the current environment, we have the team and proven capabilities in place to read, react and adapt, while continuing to deliver for customers globally.
“Importantly, with a strong foundation, we remain on offense and focused on top-line growth, store expansion, and investments in digital and technology that will enable sustainable long-term success.”
