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Abercrombie posts smaller-than-expected drop in same-store sales
May 25, 2017 / 11:50 AM / 4 months ago

Abercrombie posts smaller-than-expected drop in same-store sales

May 25 (Reuters) - U.S. teen apparel retailer Abercrombie & Fitch Co, which has put itself up for sale, posted smaller-than-expected drop in comparable-store sales, helped by strong demand for its California beach-themed surfwear brand Hollister.

Sales at established stores fell 3 percent in the first quarter ended April 29, but beat the 3.4 percent decline expected by analysts, according to research firm Consensus Metrix.

Net loss attributable to the company widened to $61.7 million, or 91 cents per share, in the quarter, from $39.6 million, or 59 cents per share, a year earlier.

The company’s net sales fell 3.6 percent to $661.1 million. Analysts on average had expected $651.3 million, according to Thomson Reuters I/B/E/S. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Arun Koyyur)

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