Abercrombie Combats Q1 Losses

Abercrombie & Fitch (New Albany, Ohio) announced its first-quarter earnings, which showed a net loss of $63.2 million for the brand. That amount is almost triple the $23.7 million loss it experienced in Q1 last year. Net sales and comparable sales were also down for the company.

According to Women’s Wear Daily, the company is overhauling the brand to combat those losses with changes that include closing almost 60 stores, incorporating more fashion into its product assortment, and making the stores’ shopping experiences more consumer-focused.

As these changes go into effect, the company expects to see growth through the rest of the year.