Abercrombie & Fitch Q1 net sales up 13%, comp store sales drop 4%
24 May '07
3 min read
"Our first quarter financial results reflect the strength of our business strategy and the execution of our plan. Despite difficult selling conditions that impacted most retailers during this period, we enhanced each of our brands while delivering record profit."
"We achieved financial and operational progress by improving gross margin and effectively managing variable expenses to increase profit for the quarter. We continue to grow our business for the long term by opening in new markets and developing new concepts, while achieving our goal of delivering strong short term results as we continue to build for the future."
First Quarter Financial Results: Net sales for the thirteen weeks ended May 5, 2007 increased 13% to $742.4 million from $657.3 million for the thirteen weeks ended April 29, 2006. Total Company direct-to-consumer net sales increased 43% to $43.5 million for the thirteen week period ended May 5, 2007, compared to the thirteen week period ended April 29, 2006.
Total Company comparable store sales decreased 4% for the thirteen weeks ended May 5, 2007, compared to the thirteen weeks ended May 6, 2006.
marketing@alchempro.com
