LAUNCHED IN 2010, THE SITCH ON FITCH BECAME THE INSPIRED, RESPECTED BRAND OF PASSION OVER THE ACHIEVEMENTS AND PRESTIGE OF ABERCROMBIE & FITCH CO. (ADMIRATION FOR ITS PAST GOING BACK TO 1892 AND FOR THE MODERN-TIME HEIGHTS OF THE MIKE JEFFRIES ERA); IT WAS OFFICIALLY, POSITIVELY RECOGNIZED BY A&F HOME OFFICE BY APRIL 2012, WITH A DIRECT EMAIL TO THE EDITOR-IN-CHIEF, DURING ITS GROWTH AS THE ONE-OF-A-KIND, MULTINATIONAL ONLINE PUBLICATION, WITH HIGH-GRADE PRESENTATION WHICH EVOLVED OVER ITS RUN, FOR RELEVANT, UNIQUE, IN-DEPTH BUSINESS, CULTURE, AND STYLE CONTENT FOR THE COMMUNITY OF CUSTOMERS AND ASSOCIATES WORLDWIDE (MONTHLY PAGEVIEWS SURPASSED 110K BY AUGUST 2012); AND IT WAS FOLDED BY SEPTEMBER 2015 AFTER THE DECEMBER 2014 RETIREMENT OF MIKE JEFFRIES AND THE EDITOR-IN-CHIEF'S DISTASTE WITH THE FURTHER DEGRADATION OF THE COMPANY BY ITS NEW MANAGEMENT. WITH CONTENT BY THE PERSPECTIVE OF DEVOTED CUSTOMERS AND ASSOCIATES FROM AMERICA, EUROPE AND FAR EAST ASIA, THE SITCH ON FITCH (2010-2015) REMAINS AS A HISTORICAL, ZEITGEIST ONLINE PUBLICATION OVER THE FINAL YEARS OF THE MIKE JEFFRIES ERA. THIS SITE WILL BE REVAMPED SOON TO OFFICIATE AN INTELLIGENT ARCHIVE FOR THE USE OF ALL PARTIES INTERESTED IN THE CONTENT PUBLISHED DURING THE PUBLICATION'S ORIGINAL RUN.

Friday, August 23, 2013

Abercrombie & Fitch Fiscal 2013, Quarter 2 Results...

Hello TSOF fans! Are you getting excited for Labor Day? I know I am: I have a five-day weekend.

Well, A&F has released Fiscal Year (FY)2013's Quarter (Q)2 sales information online. You can find it on the Company's investors website (here). However, as I know not everybody has time to peruse investors presentations and such, so I'm going to summarize the quarter...



Glance at A&F stock as of today. (CNNMoney / NYSE)


Net sales for the Company for Q2 FY2013 were $945, 698. Net sales for the Company last year Q2 were $951,407. As you can see, there's a considerable negative difference. What does this mean? Allow me to break it down:

U.S. stores sales this year have dropped from $562,105 (2012) to $504,674. That a considerable reason why the Q2 FY2013 total is so low. International stores and direct to consumer sales have increased since 2012. This is noticeably good at a glance, but let's go further.

A&F also reported that by brand, including direct to consumer: sales have gone down 6% at Abercrombie & Fitch;  3% at abercrombie; and a whopping 13% for Hollister. I don't see where or if they've reported on Gilly Hicks, but as you can see, this is bad.

The Company has tried to rectify their bad sales by repurchasing stock, a well-known tactic in the market. In Q2 FY2013 alone, they repurchased 2,033 shares!

Also worth mentioning: the store count. At the end of Q2, eight stores have been opened and four stores have been closed. Four stores being closed in the middle of the year is slightly alarming, as most Companies close stores at the end of Quarter 4.

The Company expects comparable sales in Q3 down slightly more than Q2.

Conclusions: this year has proven to be a rough one for Abercrombie & Fitch. If I were a tad cynical, I would say that the Company dug its own grave after CEO Mike Jeffries' rather bold remarks in his past interview. However, we probably all know that the world of fashion is fickle. A&F just has to do its best to stay competitive and relevant.

Anyway, I hope you enjoyed the read. If all this isn't your thing, you can expect fall outfits from me sometime after Labor Day.

Later!
Marcus