85 418
Fashion Jobs
NEIMAN MARCUS
Senior Manager, Fulfillment Operations
Permanent · PITTSTON
NEIMAN MARCUS
Loss Prevention Investigator- Charlotte
Permanent · CHARLOTTE
LULULEMON
Visual Merchandising Specialist | Toledo Local
Permanent · TOLEDO
LULULEMON
Community Specialist | Martha's Vineyard
Permanent · EDGARTOWN
LULULEMON
Community Specialist | Market Street, Lynnfield
Permanent · LYNNFIELD
LULULEMON
Expeditor (9pm - 2am) | Scottsdale Fashion Square
Permanent · SCOTTSDALE
LULULEMON
Visual Merchandising Specialist | University Place, Orem - Full Time
Permanent · OREM
LULULEMON
Visual Merchandising Specialist | The Shops at Mission Viejo
Permanent · MISSION VIEJO
LULULEMON
Community Specialist | Village Meridian
Permanent · MERIDIAN
NORDSTROM
Customer Service Representative - Montgomery Mall
Permanent · BETHESDA
NORDSTROM
Retail Stock - Chandler Festival Rack
Permanent · CHANDLER
NORDSTROM
Customer Service Representative - Old Orchard Center
Permanent · SKOKIE
NORDSTROM
Chef - Nordstrom Grill - City Creek Center
Permanent · SALT LAKE CITY
NORDSTROM
Retail Stock - Mayfair Collection Rack
Permanent · WAUWATOSA
NORDSTROM
Asset Protection - Agent - International Plaza
Permanent · TAMPA
NORDSTROM
Area HR Business Partner - NE Stores - CT/NY Market
Permanent · NORWALK
NORDSTROM
Retail Stock - The Village at Totem Lake Rack
Permanent · KIRKLAND
NORDSTROM
Service Experience Rep - Fashion Island
Permanent · NEWPORT BEACH
NORDSTROM
Asset Protection - Agent - Pentagon City
Permanent · ARLINGTON
NORDSTROM
Asset Protection - Security Ambassador - Pentagon City
Permanent · ARLINGTON
NORDSTROM
Asset Protection - Agent - Westfield Culver City Rack
Permanent · CULVER CITY
NORDSTROM
Retail Stock - The Palms at Town & Country Rack
Permanent · KENDALL
By
Reuters API
Published
Aug 30, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Abercrombie sales miss as Hollister runs out of stock in Europe

By
Reuters API
Published
Aug 30, 2018

Abercrombie & Fitch Co failed to take full advantage of an unusually long summer in Europe as its stock of Hollister brand of summerwear could not keep up with increased demand in the second quarter.




The company’s quarterly same-store sales missed Wall Street estimates on Thursday, taking the shine off a surprise adjusted profit.

“We sold through our warm wear seasonal categories too quickly and frankly ran out of ammunition as we moved through the quarter and the weather turned much warmer for much longer,” Chief Operating Officer Joanne Crevoiserat said on a conference call. “We overreacted to slower selling coming out of the first quarter.”

Same-store sales of Hollister, the company’s key revenue contributor, rose 4 percent in the second quarter, but missed the analyst average estimate of 5.3 percent rise.

In the current quarter, the company has made adjustments to its inventory to better suit the seasonal consumer tastes in Europe, Chief Executive Fran Horowitz said.

The company said sales at established stores rose 3 percent in the quarter. Analysts on average had expected 3.7 percent increase, according to Thomson Reuters I/B/E/S.

Given the strong sales coming out of peers such as American Eagle Outfitters and Urban Outfitters, Abercrombie’s comparable sales will likely not be enough for investors, RBC Capital Markets analyst Brian Tunick said.

Its flagship Abercrombie brand also missed analysts’ estimates for the quarter, raising concerns the segment’s recovery is stills on shaky ground.

Abercrombie, which helped define teenage fashion before the turn of the millennium with its risque advertising and logo emblazoned apparel, fell out of trend in the late 2000s as other fast fashion companies gained popularity.

The company has since tried to re-brand its namesake fashion brand by doing away with showcasing topless male models in stores and instead making advertisements that cater to a more diverse audience.
Net loss attributable to Abercrombie narrowed to $3.9 million, or 6 cents per share, in the second quarter ended Aug. 4.

Excluding one-time items, the company earned 6 cents per share, while analysts had expected a loss of 4 cents.

The company’s net sales rose 8.1 percent to $842.4 million. Analysts on average had expected revenue of $845.2 million.
 

© Thomson Reuters 2024 All rights reserved.