Abercrombie & Fitch quarterly sales fall again


Teen apparel retailer Abercrombie & Fitch Co posted its 15th straight drop in quarterly sales as fewer customers visited its stores.

Continue Reading Below

Abercrombie & Fitch's shares fell 8.4 percent to $15.50 in premarket trading on Friday.

The company, whose brands include Hollister and abercrombie kids, said net sales fell 6.5 percent to $821.73 million in the third quarter ended Oct. 29 from $878.57 million a year earlier.

Sales at established stores fell 6 percent, while analysts on average had expected a 3.9 percent fall, according to research firm Consensus Metrix.

Net income attributable to the company fell to $7.88 million, or 12 cents per share, in the quarter, from $41.89 million, or 60 cents per share, a year earlier.

(Reporting by Gayathree Ganesan and Jessica Kuruthukulangara in Bengaluru; Editing by Martina D'Couto)