News

Sales challenges continue at Abercrombie & Fitch

September 2, 2016

Weak sales at Abercrombie & Fitch’s flagship store and its tourist locations are the prime reason for the teen retailer's 14^th consecutive quarter sales dip. The struggling fashion apparel retailer doesn’t expect to see a turnaround in the near future.

The latest financials sparked an 11-plus percent dip in shares, according to a CNBC report.

"Flagship and tourist locations continued to account for the vast majority of the comparable sales decline, as traffic remained a significant headwind," said Executive Chairman Arthur Martinez, according to CNBC. "As we look to the rest of the year, we now expect flagship and tourist locations will continue to weigh on the business."

It’s not news any retailer wants to face given the back-to-school sales season in play and the impending holiday sales season.

The retailer's total net sales dipped 4.2 percent, reported CNBC.