Abercrombie Is Hit By High Costs, And Sales In Europe Are Down.
Abercrombie
brand
Due to increased costs, the third quarter sales have not been completed.
Price of stock
Down 13.6% to $48.1 per share.
In Europe, sales are showing due to slow economic recovery.
Slide downward
Trend.
This is the first time the brand has suffered a decline in sales in the European region. As of October 30th, the company's net income increased by 1.7% to $50900000.
Quarterly sales rose by 21.5% to $1 billion 80 million, while sales increased by 56% to 255700000 dollars, despite the decline in international sales.
Abercrombie brand has always wanted to keep its price competitive because of the competitive pressure from other low price brands.
Hollister&Co. sales increased by 8%, A&F sales increased by 4%, and Abercrombie Kids sales increased by 6%.
Although the economy is still sluggish, Abercrombie brand is also planning to open 40 Hollister stores this year, and as of October 29th, it has opened 25.
In 2012, A&F flagship store will also be opened in Amsterdam, Munich, Hamburg and Hongkong.
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