U.S. clothing retailer Abercrombie & Fitch’s digital sales for fiscal 2020 increase 39%

Abercrombie & Fitch, a United States-based specialty clothing and accessories retailer through three renowned brands, announced a 14% drop in sales to $ 3.1 billion in its fiscal year 2020 ended 1 February 2021, compared to sales of $ 3.6 billion in the previous year. . However, digital sales in fiscal 2020 jumped 39% to $ 1.7 billion.

“During the year, we made significant progress on our key transformation initiatives. We have relied on our infrastructure to grow digital at 54% of our annual revenue while using our rental flexibility to remove approximately 1.1 million gross square feet, or 17%, of our base, including eight flagships. addicted to tourism, ”Fran Horowitz, managing director of Abercrombie & Fitch, said in a press release.

Gross profit for the year was $ 1.8 billion (FY19: $ 2.1 billion). The company reported a FY20 operating loss of $ 20.4 million (operating income: $ 70.0 million) and a net loss of $ 114.0 million (net income: $ 39.3 million).

Sales of the Hollister brand fell 15% to $ 1.8 billion ($ 2.1 billion). While Abercrombie’s sales fell 12% to $ 1.3 billion ($ 1.4 billion).

Sales in all regions served by Abercrombie & Fitch declined in fiscal 2020: sales in the United States fell 12% to $ 2.1 billion ($ 2.4 million), sales in the EMEA region fell 14% to $ 709.4 million ($ 822.2 million), APAC sales plunged 33% to $ 176.6 million ($ 264.8 million) and international sales fell 18% to $ 997.9 million ($ 1.2 billion).

“As we move into 2021, we are pleased with our start to the first quarter and have proven strategies in place to build on recent successes in products, marketing and digital. Our strong foundation and strong liquidity position allow us to be on the attack as we continue to focus on profitable revenue growth, optimization of square footage, digital transformation and global market share gains, ”said Horowitz.

Fibre2Fashion Information Office (JL)

Abercrombie & Fitch, a United States-based specialty clothing and accessories retailer through three renowned brands, announced a 14% drop in sales to $ 3.1 billion in its fiscal year 2020 ended 1 February 2021, compared to sales of $ 3.6 billion in the previous year. . However, digital sales in fiscal 2020 jumped 39% to $ 1.7 billion.


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Anne G. Cash

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