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Abercrombie & Fitch credits brand portfolio ‘strength’ for driving record quarter
Fresh from appointing former Mars CMO Andrew Clarke to its board, the fashion retailer claims its “strong” brand portfolio has contributed to record sales.
Abercrombie & Fitch has credited the “strength” of its brand portfolio for helping the fashion retailer achieve record second quarter sales of $1.1bn (£833m), up 21% on the same period last year.
The performance follows record-breaking first quarter results, which the company attributed to fewer promotions and the stronger definition of its individual brands.
“For marketing, second quarter spend was in line with expectations, finishing at around 4.5% of sales,” said CFO Scott Lipesky. This figure is slightly down on the first quarter, when marketing spend grew from 4% to 5% of total sales.
