Abercrombie & Fitch Co. has unfortunately reported a loss in both earnings and sales, they both failed to meet expectations as its stores remained dark due to the global pandemic. However business will hopefully pick back up once stores start to reopen.
“With stores reopening in the U.S. and the EMEA regions, we have experienced sales productivity for reopened stores of approximately 80% and 60%, respectively, as compared to last year’s levels,” stated CEO Fran Horowitz. (As of May 28, about half of Abercrombie’s global store base has reopened.)
