Abercrombie & Fitch net sales jumped 11 per cent to US$228.9 million (£114 million), compared with US$206.6 million (£102.9 million) for the comparable period last year. February comparable store sales decreased 2 per cent.
Net sales at Gap were US$907 million (£451.6 million), which was flat compared with the comparable period last year. Comparable store sales decreased 6 per cent in February, against a 4 per cent decrease for the same month last year. Gap’s international arm reported comparable store sales down 7 per cent versus a 2 per cent rise last year.
Gap executive vice-president and chief financial officer Sabrina Simmons said: “While overall results were mixed across our brands, total company merchandise margins were above last year. We will continue to manage inventory tightly as we bring summer product into our stores.”