Abercrombie Revenues Fall, Still Beat Expectations
It’s a sign of the times for New Albany-based retailed Abercrombie &Fitch when year-over-year revenues fall by $72.8 million and it’s cause for celebration.
Sales at existing stores fell by four percent from April to June, but that’s half the drop Abercrombie saw in the first quarter of the year, and while revenues fell by $72.8 million compared to the same quarter last year, they were still above many expectations.
The preppy retailer has been plagued by criticism for what many call hyper-sexual teen clothing. They recently started a major image overhaul that includes no longer using shirtless models at stores, changing advertising strategies, and shrinking the well-known moose logo on shirts.