Retail Takes Hit, DM Slides Slightly For A&F
Abercrombie & Fitch generated net sales of $482.5 million for the five-week period ended Jan. 2, an 11% decrease from net sales of $539.2 million for the five-week period ended Jan. 3, 2009.
December comparable store sales decreased 19%, while direct-to-consumer net merchandise sales decreased 4% to $44 million.
For the full year, Abercrombie & Fitch recorded a net sales decrease of 18% to $2.75 billion, down from $3.349 billion last year. Comparable store sales decreased 25%, while direct-to-consumer net merchandise sales decreased 6% to $230.1 million.
During the two most recent months, the company aggressively promoted a complimentary gift cards campaign. The value of these gift cards issued but not redeemed has been deducted from reported sales for the applicable month. The cumulative face value of gift cards issued in connection with these special events, but not yet redeemed as of the end of December, was approximately $22 million.
