Mike Jeffries led apparel retailer Abercrombie & Fitch has announced that the company’s Board of Directors has approved a quarterly dividend for holders of the company’s common shares in the amount of $0.20 per common share. The dividend will be paid on December 10, 2014 to shareholders of record at the close of business on December 2, 2014.
Net sales for the third quarter of 2014 for Abercrombie & Fitch went down 12 per cent to $911.4 million from 1.033 billion for the third quarter ended November 2, 2013.
Total comparable sales, including direct-to-consumer sales too declined 10 per cent with comparable US sales falling 7 per cent and comparable international sales dipping higher by 15 per cent.
However, total direct-to-consumer comparable sales bucked the trend and expanded by 8 per cent, compared with the year ago quarter.
Abercrombie & Fitch ended the third quarter of 2014 with inventory cost down 20 per cent, compared to the end of the prior year third quarter.
Abercrombie & Fitch Co is a leading global specialty retailer of high-quality, casual apparel for men, women and kids with an active, youthful lifestyle under its Abercrombie & Fitch, Abercrombie kids, Hollister Co. and Gilly Hicks brands. At the end of the third quarter of fiscal 2014, the company operated 834 stores in the United States and 166 stores across Canada, Europe, Asia, Australia and the Middle East. (GK)
