A number of clothing retailers have reported negative results in their second quarters, with only Urban Outfitters posting positive sales up against last year.
Abercrombie & Fitch made a net loss of $26.7m (£16.3m) against a profit of $77.8m (£47.6m) during the same quarter last year, with total sales plummeting 23% to $648.5m (£396.6m) during the quarter. High-end clothing retailer Nordstrom’s fiscal second-quarter profit dropped 27% as the retailer reported lower same-store sales.
Department store chains JC Penney and Kohl’s reported equally disappointing results.
JC Penney revealed a second-quarter net loss of $1m (£610,000) with like-for-like sales decreasing 9.5%. At Kohl’s, the fourth-largest US department store chain, second-quarter profit fell 3% as like-for-like sales declined.
Despite Urban Outfitters reporting net income of $49m (£29.9m), compared with $57m (£31.1m) a year earlier, the fashion retailer increased revenue 1% to $458.6m (£280.5m) in the period.