The brands second-quarter online sales have surged 56%.
As well as the impressive online profits that the brand has enjoyed, its stock was also recently trading up more than 9% meaning even through overall sales were down, as they were for many brands due to the ongoing COVID-19 pandemic, Abercrombie has still managed to boost profitability by keeping costs down and seeing rapid growth in their online offering.
Abercrombie entered the pandemic with a thorough plan: reduce costs in stores by adjusting employees’ hours, and reducing marketing costs in order to fuel its e-commerce business and it seems that this plan has worked for the global brand, who is now enjoying results that are better than expected by analysts.
Although the brand hasn’t offered an insight into what they think their performance will be like for the remainder of the year, they remain happy with their profits to date given the economic uncertainty.
