Teen retailer Abercrombie & Fitch Co. said Friday that first-quarter earnings increased 3.4 percent and predicted that eventually half its business will be international.
For the three months ended May 3, earnings reached $62.1 million, or 69 cents a diluted share, up from $60.1 million, or 65 cents, in the year-ago period. Analysts were expecting earnings of 66 cents a share, but a lower tax rate and stronger gross margins helped to offset weaker same-store sales. Sales for the quarter grew 7.8 percent to $800.2 million from $742.4 million, and total same-store sales fell 3 percent.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"