In its annual report filed Tuesday, Abercrombie & Fitch revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores.
Margin squeezes and flagging same-store sales hurt Abercrombie & Fitch Co.’s fourth quarter profit dropped nearly 80% drop, to $19.6 million from $92.6 million a year earlier, amid margin squeezes and flat same-store sales.
IBM announced that Abercrombie & Fitch Co. is working with IBM software to help the company transform its online business to achieve greater speed and efficiency.
The nation’s specialty apparel retailers reported mixed results in July. as Hot Topic and Limited Brands turned in strong performances, while Gap and Aeropostale stumbled.
Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.