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Abercrombie & Fitch profit up in Q3
New Albany, Ohio -- Abercrombie & Fitch Co. on Tuesday reported a profit of $50 million for the quarter ended Oct. 30, compared with $38.8 million in the year-ago period. Its results were helped by improving sales in the United States and international revenue.
Sales rose 18% to $886 million, matching Wall Street expectations. Same-store sales increased 7%. By division, same-store sales rose 8% at namesake stores, 2% at Abercrombie kids stores and 7% at surf-themed Hollister stores.
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Stride Rite to open in China
Topeka, Kan. -- Collective Brands, parent company to Payless ShoeSource and Stride Rite, said Tuesday it is planning to take its Stride Rite children’s shoe brand to mainland China next year.
According to Bloomberg, the company is teaming up with Li & Fung Retailing and will also open stores in Hong Kong, Malaysia and Singapore starting in December, according to Matthew Rubel, CEO of Collective Brands.