Abercrombie & Fitch: warns of slower growth this year
(CercleFinance.com) - On Thursday Abercrombie & Fitch warned that revenue growth would slow this year.
The US teen fashion retailer said it expects comparable sales growth to be in a range of 0% to 2% this year, against positive comparable sales of 3% last year.
For the second quarter ended 3 August, net sales fell by 0.2% to 841.1 million dollars, with comparable sales flat.
The clothing chain made an operating loss of 39.5 million dollars over the quarter, resulting from the adverse impact of exit charges as it closed several stores, including its Hollister SoHo flagship store in New York.
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