Abercrombie & Fitch's sales are falling - again - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Abercrombie & Fitch's sales are falling - again

(Source: Pixabay) (Source: Pixabay)
(KFVS) -

According to Business Insider, apparel retailer Abercrombie & Fitch Co.'s sales have dropped for the 14th straight quarter, and the company's shares have tumbled nearly 12 percent in pre-market trading on Tuesday, August 30.

"Flagship and tourist locations continued to account for the vast majority of the comparable sales decline as traffic remained a significant headwind," Executive Chairman Arthur Martinez said.

In an effort to start to regain lost shoppers, the company is hiring top designers to help jump start struggling clothing sales. The company also plans to leave the more logo-centric designs behind.

The company's total net sales fell 4.2 percent to $783.2 million. Analysts, on average, had expected a loss of 20 cents per share and revenue of $782.7 million, according to Thomson Reuters I/B/E/S.

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