Abercrombie & Fitch Co reported a bigger-than-expected 61% jump in first-quarter sales on Wednesday, as the apparel retailer benefited from shoppers returning to its stores and using its beefed-up online business.
Abercrombie & Fitch forecast first-quarter net sales above estimates on Tuesday after tightened costs and surging online sales of sweaters, fleece tops and knit bottoms made for a better-than-expected quarterly profit.
According to a new report from Comprar Acciones, the value of the global activewear market should reach $353.5 billion in 2020, as the segment remains somewhat resistant to the economic impact of the Covid-19 pandemic.
Abercrombie & Fitch is to close a selection of major flagship stores, including London, Paris and Munich, it announced with its latest set of results on Tuesday. The stores have been a major drag on its performance.
Abercrombie & Fitch Co reported a steeper-than-expected quarterly loss on Thursday, hurt by plunging demand for apparel as most of its stores were forced to shutter to curb the spread of the novel coronavirus.
Abercrombie & Fitch Co opened its new signature brand store, including abercrombie kids, in Westfield London on Friday. The new flagship is at Europe's largest shopping destination that draws in 30m visitors a year.