Sponsors
Billabong ▲ +0.015 | PPR ▲ +2.15 | American Apparel ▲ +0.072 | The Buckle ▲ +0.25 | Columbia ▼ -1.54 | Deckers Outdoor ▼ -0.25 | Dicks ▼ -0.65 | Foot Locker ▲ +0.41 | Genesco ▲ +0.33 | Iconix Brand Group ▲ +0.17 | Jarden Corp ▲ +0.11 | Nordstrom ▲ +0.14 | Luxottica ▲ +0.23 | Nike ▼ -0.71 | Pacific Sunwear ▲ +0.14 | Skullcandy ▼ -0.01 | Sport Chalet ▼ -0.03 | Urban Outfitters ▲ +0.14 | VF Corp ▼ -0.40 | Quiksilver ▼ -0.07 | Zumiez ▲ +0.01 | Macys ▼ -0.07 | Tillys ▲ +0.09 |
Ticker Sponsor
Readers Say
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
Great insight into the issues
Great insight into the issues

I am a big fan of Tiffany and her team as well as an avid reader of Shop-Eat-Surf. I shop, I eat, I surf -- I should pay.

- By Kevin Bailey, President, Vans
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Hollister's no-discount results

Hollister's no-discount
By Tiffany Montgomery
February 13, 2009 7:04 AM

Industry competitor Hollister saw same-store sales decline 25 percent in the fourth quarter, parent company Abercrombie & Fitch reported this morning.

The retailer is one of the few at the mall that did not discount during the holidays. CEO Mike Jeffries believes being promotional would damage the aspirational image of its brands, he said. The company also has plenty of cash on the books - $522 million - which helps it take the high road.

"The fourth quarter proved to be a catastrophe for the retail industry; a nightmare that included unprecedented promotional activity by other retailers in the malls and consumers who continued to show reluctance to spend, especially for premium brands," Jeffries said in a press release. "However, despite the unprecedented volatility, we are satisfied with our results for the quarter. Our comparable store sales decrease was lower than we had projected. ... and we maintained the aspirational nature of all of our brands."

Other companywide results

Q4 sales: down 19 percent to $998 million.

Q4 same-store sales: down 25 percent.

Q4 gross profit rate: 64.4 percent, 280 basis points lower than last year.

Q4 net income: down 68 percent to $68.4 million. (That figure includes the impact of an impairment charge and a tax expense charge.)

2008 sales: down 6 percent to $3.5 billion.

2008 same-store sales: down 13 percent

2008 gross profit rate: 66.7 percent versus 67 percent last year.

2008 net income: $272.2 million, down 42 percent

Cash at end of year: $522 million

No. of Hollister stores: 507 in the U.S., 5 in Canada, and three in the U.K.

 

Airfare.com - Flights, hotels and more!

 

 


Articles You Might Have Missed