Casual apparel retailer Abercrombie & Fitch Co. (ANF) Thursday reported a 15% decline in comparable store sales for October, as well as a 5% decline in net sales during the period. In comparison to the preceding two periods, Abercrombie & Fitch's comparable store sales fared much better in October.
The New Albany, Ohio headquartered company that owns Abercrombie & Fitch, abercrombie, Hollister and RUEHL brands, reported October net sales of $203.4 million, a 5% decline when compared to $215.0 million recorded in the same period a year ago.
Total company direct-to-consumer net merchandise sales increased 24% to $22.0 million.
For September 2009, the company reported an 18% decline in comparable store sales, while net sales declined 10% to $248.2 million. The company's comparable sales for August 2009 declined 29%, while net sales declined 23% to $313.9 million.
Brand-wise in October, Abercrombie & Fitch comparable store sales decreased 8% and abercrombie comparable store sales decreased 17%. Hollister Co. October comparable store sales decreased 21% and RUEHL comparable store sales decreased 23%.
Quarter-to-date, the company reported a 22% decline in comparable store sales and a 11% decline in total company direct-to-consumer net merchandise sales at $63.9 million. Net sales for the quarter-to-date period declined 15% to $765.5 million from $896.3 million last year.
For the preceding second quarter of 2009, the company's net sales declined 5% to $657.60 million from $688.82 million in the prior year quarter. Comparable store sales decreased 10% for the quarter, compared to a 9% decline last year.
Comparable store sales for the year-to-date period ended October 31, 2009 decreased 27%. Total company direct-to-consumer net merchandise sales decreased 8% to $161.6 million. Year-to-date net sales were $2.026 billion, down 20% from $2.542 billion a year ago.
In the previous year-to-date period ended September 2009, the company's net sales decreased 22% to $1.823 billion from $2.327 billion in the same period last year. Comparable store sales for the period declined 28% from the year-ago period, while total company direct-to-consumer net merchandise sales decreased 12% year-over-year to $139.6 million.
At month end, the company operated 347 Abercrombie & Fitch stores, 209 abercrombie stores, 509 Hollister Co. stores, 27 RUEHL stores and 16 Gilly Hicks stores in the United States. The company also operated three Abercrombie & Fitch stores, three abercrombie stores and six Hollister Co. stores in Canada, one Abercrombie & Fitch store and seven Hollister Co. stores in the United Kingdom, and one Abercrombie & Fitch store and one abercrombie store in Italy. The company operates e-commerce websites as well.
Amongst the company's competitors, Pittsburgh, Pennsylvania-based teen clothing retailer American Eagle Outfitters, Inc. (AEO) today reported a 5% decline in comparable store sales for October, compared to a 12% decrease for the same period last year. Total sales for the month declined 5% to $195.1 million from $204.8 million last year.
Another specialty retailer Gap Inc. (GPS) reported a 4% rise in October comparable store sales, compared to a 16% decrease in October 2008. Net sales were $1.14 billion, up 5% from $1.08 billion in the same month of 2008.
ANF is currently trading at $34.14, up 0.32 or 0.95%, on a volume of 1.23 billion shares on the NYSE. In the past 52 weeks, the stock trended in a broad range of $13.66 to $37.80, with a three-month average volume of 4.09 million shares.
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