Sponsors
Billabong ▼ -0.010 | PPR ▼ -2.20 | American Apparel ▼ -0.020 | The Buckle ▼ -0.85 | Columbia ▼ -1.34 | Deckers Outdoor ▲ +1.09 | Dicks ▼ -0.65 | Foot Locker ▼ -0.56 | Genesco ▼ -0.67 | Iconix Brand Group ▼ -1.22 | Jarden Corp ▲ +0.01 | Nordstrom ▲ +0.11 | Luxottica ▼ -0.58 | Nike ▼ -0.16 | Pacific Sunwear ▲ +0.07 | Skullcandy ▼ -0.12 | Sport Chalet - 0 | Urban Outfitters ▼ -0.44 | VF Corp ▲ +0.13 | Quiksilver ▼ -0.01 | Zumiez ▼ -0.33 | Macys ▼ -0.46 | Tillys ▼ -0.14 |
Readers Say
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
Executive Edition is a must have
Executive Edition is a must have

Before Shop-Eat-Surf, there were two sites I paid for premium content on. One is Surfline, the other is the Wall Street Journal. One is about all things surf, the other, the best business content site in the world. Shop-eat-surf is the intersection of those two worlds. Shop-Eat-Surf provides everything from coverage of events, people, brands and trends. However, beyond the Executive Edition "wall" is more meaty analysis and interpretation of financial statements, business models and brand philosophies; why certain brands and companies are succeeding, where others aren't. The Executive Edition is a must have read if the business of surf and action sports are on your radar screen.

- By Jeff Berg, Co-owner, Surfline
Industry Insight

CFA, WELLS FARGO: Invitation to next "Crystal Ball" breakfast session, "Private Label vs Branded Manufacturing."

STOKES ME: SIMA Humanitarian Fund campaign kicks off this week with "Add-A-Buck" promotions in 76 core-store doors.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Abercrombie bets big on Hollister in Europe

By Tiffany Montgomery
February 16, 2010 6:26 AM

Hollister may be one of Abercrombie & Fitch’s worst performing chains domestically, but the company is making an aggressive push in Europe.

The company said this morning it would open 30 mall-based surf-inspired Hollister stores in Europe in 2010.

After several strong years in the U.S. and after taking market share from action sports brands, Hollister has struggled lately. While many retailers have seen falling comps during the recession, Hollister’s decline has been steeper than most. And even though the chain is up against easy comparisons now, same store sales remain down in the double digits.

In the fourth quarter, Hollister same store sales declined 19%, despite the company’s backtracking on its anti-discounting stance.

Company-wide fourth quarter results

Net income: down 30.6% to $47.5 million.

Net income from continuing operations: down 31% to $61 million.

Total net sales: down 5% to $936 million.

Domestic sales, including direct: down 12% to $793.1 million.

International sales: up 86% to $142.9 million.

Same store sales: down 13%

Abercrombie & Fitch stores: same-stores sales down 8%. Total sales $398 million.

Abercrombie Kids: same-store sales down 11%. Total sales $111.8 million.

Hollister: same-store sales down 19%. Total sales $417.1 million.

Cash: $680 million, with $50.9 million in borrowing and $50 million in outstanding Letters of Credit.

2009 results

Net income: down 99.8% to $0.3 million.

Net income from continuing operations: down 74.3% to $79 million.

 


Articles You Might Have Missed