The apparel retailer reported on Wednesday that its third-quarter earnings jumped 15.3% as increased sales offset higher markdown rates. For the period ending Nov. 3, abercrombie (nyse: ANF - news - people ) earned $117.6 million, or $1.29 per share, up from $102.0 million, or $1.11 per share in the third quarter of 2006.
Total sales for the period climbed to $973.9 million, up 12.8% from $863.4 million in the similar period a year prior. Same-store sales for the quarter rose 1%, which includes sales at Hollister and RUEHL brands. Same-store sales at hollister clothing stores grew 3%.
The New Albany, Ohio-based company beat the profit predictions of analyst polled by Thomson Financial, who forecast $1.28 per share. However, abercrombie outlet fell short of the Street's sales estimate of $985.3 million.
2009年10月18日星期日
2009年10月14日星期三
Abercrombie & Fitch to Close Ruehl
In a move that surprises no one, abercrombie and fitch announced that it will be closing Ruehl by the end of the year. Ruehl, which had pretax losses of $58 million last year, wasn’t exactly helping A&F’s bottom line, which itself wasn’t looking all that rosy. Last month the company finally decided to cut prices after refusing to do so for months, even though competitors had already slashed away. And its stock prices had plunged. But the powers that be felt that marking down merch would make the brand seem cheap.Adding to the company’s woes are lawsuits filed by employees who claimed they were discriminated against, including a British woman with a prosthetic arm who was, she says, forced to work in the stockroom for not fitting in abercrombie with the store’s image. Well, at least there’s that new children’s store to keep thecompany afloat.
2009年10月13日星期二
Abercrombie & Fitch downgraded by Susquehanna
An analyst cut his rating on shares of preppy retailer Abercrombie & Fitch Co. on Wednesday, saying that
shoppers are cutting back on purchasing luxury items.
Susquehanna analyst Thomas A. Filandro downgraded the stock to "Neutral" from "Positive" and said abercrombie and fitch
high prices are hurting business since consumers are reluctant to spend money.
"Although select fashion items are resonating with hollister core shoppers, the brand's higher priced
positioning continues to create pressure on average store transactions," Filandro wrote in a client note.
Looking ahead, Filandro said that international expansion is the primary focus for growth, and abercrombie is
on track to open 13 international locations this year.
"Year-to-date, international stores posted revenue of $90 million, accounting for 7 percent of total revenue,
with productivity in excess of the domestic store average," Filandro wrote.
Abercrombie posted quarterly results last week and recorded a second-quarter loss of 30 cents per share, mostly
because of charges and a 23 percent decline in sales.
Shares of Abercrombie declined 13 cents to $31.34.
Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten,
or redistributed
shoppers are cutting back on purchasing luxury items.
Susquehanna analyst Thomas A. Filandro downgraded the stock to "Neutral" from "Positive" and said abercrombie and fitch
high prices are hurting business since consumers are reluctant to spend money.
"Although select fashion items are resonating with hollister core shoppers, the brand's higher priced
positioning continues to create pressure on average store transactions," Filandro wrote in a client note.
Looking ahead, Filandro said that international expansion is the primary focus for growth, and abercrombie is
on track to open 13 international locations this year.
"Year-to-date, international stores posted revenue of $90 million, accounting for 7 percent of total revenue,
with productivity in excess of the domestic store average," Filandro wrote.
Abercrombie posted quarterly results last week and recorded a second-quarter loss of 30 cents per share, mostly
because of charges and a 23 percent decline in sales.
Shares of Abercrombie declined 13 cents to $31.34.
Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten,
or redistributed
2009年9月28日星期一
Abercrombie & Fitch was real surprise
I had read about it being dark and like a gay abercrombie and fitch techno club but even so it was such a surprise. From the semi-naked chaps welcoming us in, to the nightclub atmosphere with the only illumination mainly being on the products with a few spotlights. I’d also read somewhere about the staff being too beautiful abercrombie and fitch to talk to us customers but that didn’t really seem to be the case. Not much was being sold when we were there but we’d seen plenty of people, particularly teenage girls with A&F bags when we were on the way there and there was a short queue for the fitting rooms. In fact that’s how we found the store by following the shopping bags.
What I think is very enjoyable is when a abercrombie and fitch brand shocks you in some way. I assumed we’d be in a Long Island, Hamptons type of environment, big skies and pale colours as you see on their website but that’s not at all the case. Dark wood and dark grey painted walls, sculptures and paintings created a much more vibrant and exciting atmosphere. The shelves were stacked high with product and big glass cases were staffed with the (smiling) beautiful people behind them, shades abercrombie and fitch of the sweet shop in Willy Wonka and the Chocolate Factory (Gene Wilder version). There were also plenty of spaces to walk around, similar in a way to Asprey but without the breadth of product, so plenty to explore giving it even more of that nightclub atmosphere.
We’re back to London in a week or two and I think another visit may well be in order.Retail Safari (part 2) – abercrombie and fitch
What I think is very enjoyable is when a abercrombie and fitch brand shocks you in some way. I assumed we’d be in a Long Island, Hamptons type of environment, big skies and pale colours as you see on their website but that’s not at all the case. Dark wood and dark grey painted walls, sculptures and paintings created a much more vibrant and exciting atmosphere. The shelves were stacked high with product and big glass cases were staffed with the (smiling) beautiful people behind them, shades abercrombie and fitch of the sweet shop in Willy Wonka and the Chocolate Factory (Gene Wilder version). There were also plenty of spaces to walk around, similar in a way to Asprey but without the breadth of product, so plenty to explore giving it even more of that nightclub atmosphere.
We’re back to London in a week or two and I think another visit may well be in order.Retail Safari (part 2) – abercrombie and fitch
2009年9月27日星期日
Abercrombie & Fitch manager denies taunting disabled employee
A manager today denied "taunting and goading" a disabled employee at an abercrombie and fitch store in London.
Riam Dean has told an employment tribunal she "questioned her worth as a human being" after she was forced to work in the stockroom of the US clothing retailer because she did not fit its strict "look" policy.
The law student, who was born with her left abercrombie and fitch forearm missing, said she was granted special permission to wear a cardigan to cover the join in her arm, but was later removed from the shop floor because the cardigan did not adhere to the dress code.
Maria Barbera, the store manager said to have taunted abercrombie and fitch Miss Dean at the London flagship store on Saville Road, denied being aggressive towards the junior employee.
The Spanish manager, who has since been promoted to a more senior role at the abercrombie and fitch sister chain, Hollister, told the tribunal panel in London: "I was aware that she had a prosthetic arm, but did not know that she had been given approval to wear clothes that were not in accordance with the look policy.
"I explained that she could not work on the shop floor because of her cardigan and asked that she go and work in the stockroom. Riam did not seem upset by this."
However, later, the tribunal heard, the manager learned that Miss Dean had complained to a colleague about being "kicked off" the shop floor.
Ms Barbera confronted Miss Dean, telling her: "If you have a problem with me, you tell me."
Ms Barbera told the panel: "I was direct and straight to the point. I did not think my manner was aggressive or intimidating in any way.
"Rian told me she was upset because I did not give her the opportunity to take the cardigan off.
"I explained that I had wrongly assumed that she abercrombie and fitch would not want to remove the cardigan."
Ms Barbera told Miss Dean that, if she took her cardigan off, she could go and work on the shop floor.
Miss Dean is then alleged to have replied: "It's okay, I'm used to being the victim."
Ms Barbera acknowledged that she was "upset and annoyed" by events, but claimed she did not make the link between Miss Dean's reluctance to take off her cardigan and the fact that she wore a prosthetic arm until later.
The tribunal heard that Ms Barbera's only equal opportunities training had been in the form of a computer programme completed on line.
Ms Dean started working at the store on June 11 last year. She worked five shifts before leaving on July 4 after the encounter with Ms Barbera.
Riam Dean has told an employment tribunal she "questioned her worth as a human being" after she was forced to work in the stockroom of the US clothing retailer because she did not fit its strict "look" policy.
The law student, who was born with her left abercrombie and fitch forearm missing, said she was granted special permission to wear a cardigan to cover the join in her arm, but was later removed from the shop floor because the cardigan did not adhere to the dress code.
Maria Barbera, the store manager said to have taunted abercrombie and fitch Miss Dean at the London flagship store on Saville Road, denied being aggressive towards the junior employee.
The Spanish manager, who has since been promoted to a more senior role at the abercrombie and fitch sister chain, Hollister, told the tribunal panel in London: "I was aware that she had a prosthetic arm, but did not know that she had been given approval to wear clothes that were not in accordance with the look policy.
"I explained that she could not work on the shop floor because of her cardigan and asked that she go and work in the stockroom. Riam did not seem upset by this."
However, later, the tribunal heard, the manager learned that Miss Dean had complained to a colleague about being "kicked off" the shop floor.
Ms Barbera confronted Miss Dean, telling her: "If you have a problem with me, you tell me."
Ms Barbera told the panel: "I was direct and straight to the point. I did not think my manner was aggressive or intimidating in any way.
"Rian told me she was upset because I did not give her the opportunity to take the cardigan off.
"I explained that I had wrongly assumed that she abercrombie and fitch would not want to remove the cardigan."
Ms Barbera told Miss Dean that, if she took her cardigan off, she could go and work on the shop floor.
Miss Dean is then alleged to have replied: "It's okay, I'm used to being the victim."
Ms Barbera acknowledged that she was "upset and annoyed" by events, but claimed she did not make the link between Miss Dean's reluctance to take off her cardigan and the fact that she wore a prosthetic arm until later.
The tribunal heard that Ms Barbera's only equal opportunities training had been in the form of a computer programme completed on line.
Ms Dean started working at the store on June 11 last year. She worked five shifts before leaving on July 4 after the encounter with Ms Barbera.
2009年9月25日星期五
Bayer in Berkeley, Abercrombie & Fitch, Fed study
Bayer HealthCare announced Wednesday abercrombie and fitch that it will invest more than $100 million to upgrade and improve its Berkeley manufacturing capabilities, a decision that dispels fears the pharmaceutical giant and the city's largest private employer would exit.
The decision by Bayer HealthCare to manufacture future versions of its hemophilia drug Kogenate isn't just about the patients. It's also a major relief for Berkeley and Oakland. Earlier this year, Bayer hinted it was considering a move out of Berkeley.
"There has definitely been a lot of bad news with NUMMI leaving and the threat of Bayer possibly leaving, so it's nice to finally give people some good news," said Tom Bates, mayor of Berkeley. "This is not just important for Berkeley but for the region as well."
This is the largest investment ever made by Bayer on the Berkeley site, said Joerg Heidrich, head of Bayer HealthCare's product supply biotech organization.
nation
abercrombie and fitch sues Beyoncé
Teen clothing retailer Abercrombie & Fitch is suing singer Beyoncé Knowles over her plans for a fragrance named after Sasha Fierce, her alter ego.
abercrombie and fitch says in a lawsuit filed Tuesday in federal court in Columbus, Ohio, that Knowles' intent to use the name constitutes trademark infringement, unfair competition and deceptive trade practices.
New Albany, Ohio-based Abercrombie says its Abercrombie & Fitch Trading Co. subsidiary has owned the Fierce trademark since 2002 for its own men's fragrance.
It asks the court to order Knowles to halt her plan to sell a fragrance with a similar name.
abercrombie and fitch says sales of its fragrance have exceeded $190 million. It projects 2009 sales at $64 million.
washington
Fed looks at medium-size lenders
Federal Reserve supervisors are examining the vulnerability of medium-size lenders to falling commercial real-estate values to gauge the size of potential losses across the banking system.
The Fed is focusing on banks smaller than the 19 largest lenders examined in detail in May, a central bank official said on condition of anonymity. The process involves gathering data from individual banks and comparing it with their peers, an approach known internally as a "horizontal review."
Policymakers need to estimate the timing for a abercrombie and fitch revival in bank lending when deciding when to withdraw emergency credit programs and record monetary stimulus. While the Fed has pumped billions of dollars of liquidity into financial institutions, total bank credit to the economy grew just 2 percent in August compared with the same month last year, according to Fed data.
The decision by Bayer HealthCare to manufacture future versions of its hemophilia drug Kogenate isn't just about the patients. It's also a major relief for Berkeley and Oakland. Earlier this year, Bayer hinted it was considering a move out of Berkeley.
"There has definitely been a lot of bad news with NUMMI leaving and the threat of Bayer possibly leaving, so it's nice to finally give people some good news," said Tom Bates, mayor of Berkeley. "This is not just important for Berkeley but for the region as well."
This is the largest investment ever made by Bayer on the Berkeley site, said Joerg Heidrich, head of Bayer HealthCare's product supply biotech organization.
nation
abercrombie and fitch sues Beyoncé
Teen clothing retailer Abercrombie & Fitch is suing singer Beyoncé Knowles over her plans for a fragrance named after Sasha Fierce, her alter ego.
abercrombie and fitch says in a lawsuit filed Tuesday in federal court in Columbus, Ohio, that Knowles' intent to use the name constitutes trademark infringement, unfair competition and deceptive trade practices.
New Albany, Ohio-based Abercrombie says its Abercrombie & Fitch Trading Co. subsidiary has owned the Fierce trademark since 2002 for its own men's fragrance.
It asks the court to order Knowles to halt her plan to sell a fragrance with a similar name.
abercrombie and fitch says sales of its fragrance have exceeded $190 million. It projects 2009 sales at $64 million.
washington
Fed looks at medium-size lenders
Federal Reserve supervisors are examining the vulnerability of medium-size lenders to falling commercial real-estate values to gauge the size of potential losses across the banking system.
The Fed is focusing on banks smaller than the 19 largest lenders examined in detail in May, a central bank official said on condition of anonymity. The process involves gathering data from individual banks and comparing it with their peers, an approach known internally as a "horizontal review."
Policymakers need to estimate the timing for a abercrombie and fitch revival in bank lending when deciding when to withdraw emergency credit programs and record monetary stimulus. While the Fed has pumped billions of dollars of liquidity into financial institutions, total bank credit to the economy grew just 2 percent in August compared with the same month last year, according to Fed data.
2009年9月24日星期四
Abercrombie & Fitch fined in MOA discrimination case
A judge ordered retail giant abercrombie and fitch to pay $115,000 for discriminating against a 14-year-old autistic customer at its Mall of America store.
The civil penalty, the largest of its kind in at least two years, came four years after store employees refused to let the autistic teen join her older sister in a fitting room because of the clothing chain's anti-shoplifting policy. The store refused to relent even after the sister, and later the girls' mother, explained that the 14-year-old abercrombie and fitch couldn't be alone because of her disability.
The confrontation humiliated the girl, who testified that the incident made her feel like a "misfit."
"She was singled out and required to hear her sister and mother repeatedly ask for accommodations based on her disability, in front of a long line of customers, at a store that markets itself to young people as a purveyor of a particularly desirable 'look' " administrative law judge Kathleen D. Sheehy declared in her ruling.
When several complaints to the company were ignored, the girl's mother, Elizabeth Maxson of Apple Valley, took the case to the Minnesota Department of Human Rights. The investigation encountered fierce resistance from abercrombie and fitch, a New Albany, Ohio-based company that posted $3.5 billion in revenues last year. The company even denied that the girl, identified only as M.M. in court documents, had a disability until the first day of the administrative law hearing in April. She was diagnosed as autistic at the age of 2.
In her ruling, Sheehy found that abercrombie and fitch violated the Minnesota Human Rights Act and ordered the company to pay the girl $25,000 for mental anguish and suffering. The company also was ordered to pay $25,000 to the state as a civil penalty, $41,069 in attorney's fees, $20,441 abercrombie and fitch to the human rights department for its expenses and $3,753 in other expenses.
The civil penalty, the largest of its kind in at least two years, came four years after store employees refused to let the autistic teen join her older sister in a fitting room because of the clothing chain's anti-shoplifting policy. The store refused to relent even after the sister, and later the girls' mother, explained that the 14-year-old abercrombie and fitch couldn't be alone because of her disability.
The confrontation humiliated the girl, who testified that the incident made her feel like a "misfit."
"She was singled out and required to hear her sister and mother repeatedly ask for accommodations based on her disability, in front of a long line of customers, at a store that markets itself to young people as a purveyor of a particularly desirable 'look' " administrative law judge Kathleen D. Sheehy declared in her ruling.
When several complaints to the company were ignored, the girl's mother, Elizabeth Maxson of Apple Valley, took the case to the Minnesota Department of Human Rights. The investigation encountered fierce resistance from abercrombie and fitch, a New Albany, Ohio-based company that posted $3.5 billion in revenues last year. The company even denied that the girl, identified only as M.M. in court documents, had a disability until the first day of the administrative law hearing in April. She was diagnosed as autistic at the age of 2.
In her ruling, Sheehy found that abercrombie and fitch violated the Minnesota Human Rights Act and ordered the company to pay the girl $25,000 for mental anguish and suffering. The company also was ordered to pay $25,000 to the state as a civil penalty, $41,069 in attorney's fees, $20,441 abercrombie and fitch to the human rights department for its expenses and $3,753 in other expenses.
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