Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/ap/2013-04-03/abercrombie-and-fitch-shares-rise-on-expansion-plans

AP News

Abercrombie & Fitch shares rise on expansion plans


NEW YORK (AP) — Shares of Abercrombie & Fitch Co. rose Wednesday on optimism about its international expansion plans and focus on boosting profitability.

THE SPARK: The teen clothing retailer said in its annual report filed late Tuesday that it plans to open Abercrombie & Fitch flagship locations in Seoul and Shanghai and about 20 international Hollister stores.

The company also said that it continues to focus on simplifying processes, eliminating less-profitable parts of its business, boosting efficiency and lowering expenses.

THE BIG PICTURE: The Hollister openings will include the company's first stores in Australia, its first store in the Middle East in Dubai through a joint venture, while also marking the brand's entry into the Japanese market. The company said it's also considering opening international mall-based Abercrombie & Fitch stores within the next 12 months.

The company added that it continues to target annual earnings-per-share growth of 15 percent.

THE SHARES: Up $1.72, or 4 percent, to $47.18 in afternoon trading, after peaking at $47.66 earlier in the day. Over the past 52 weeks, the company's shares have traded between $28.64 and $54.05.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus