1. After big loss, Abercrombie to cut prices
- Author
-
Casey, Nicholas
- Subjects
Abercrombie & Fitch Co. -- Company sales and earnings ,Abercrombie & Fitch Co. -- Planning ,Abercrombie & Fitch Co. -- Marketing ,Clothing stores ,Company earnings/profit ,Company business planning ,Company marketing practices ,Banking, finance and accounting industries ,Business ,Business, international - Abstract
Retailer Abercrombie & Fitch Co. reports a first-quarter net loss of $26.8 million, compared to a net profit of $62.1 million a year earlier. Sales dropped 24% to $612.1 million from $800.2 million the year before. Gross margin fell 3.5 points to 63.3%. In an effort the win back customers, Abercrombie said it would lower prices.
- Published
- 2009