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NEW ALBANY, Ohio - Teen retailer Abercrombie & Fitch Co. said Thursday its same-store sales in August dropped 11 percent--a far steeper drop than Wall Street analysts expected.
| ANF | 35.01 |  -0.11 |
Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.
Analysts polled by Thomson Reuters had expected same-store sales to fall 3.3 percent.
Abercrombie & Fitch same-store sales fell 5 percent while same-store sales at abercrombie dropped 17 percent. Same-store sales at its surf-inspired brand Hollister declined 14 percent and slid 25 percent at its Ruehl chain, which is aimed at older shoppers.
Total sales for the four-week period ended Aug. 30 fell 5 percent to $405.5 million from $425.4 million.
Total company direct-to-consumer sales fell 8 percent in the period.
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