US retailer Abercrombie & Fitch is continuing to struggle in 2016 as it announced a drop in sales for the 14th consecutive quarter.
Abercrombie & Fitch spring 15
The retailer blamed a strong dollar for a decrease in tourist spend and a fall in revenue at out of town stores.
Executive chairman Arthur Martinez said: “Flagship and tourist locations continued to account for the vast majority of the comparable sales decline as traffic remained a significant headwind. As we look to the rest of the year, we now expect flagship and tourist locations will continue to weigh on the business.”
Last week Abercrombie & Fitch announced a partnership with German etailer Zalando to sell product online in Europe.
“The American retailer has made great strides to grow and expand its footprint globally and we look forward to continuing that growth strategy across our European network,” said Moritz Hahn, senior VP, category management and markets at Zalando.
“By entering into partnerships like this, we allow our consumers access to international brands, generate an enhanced offer and make online shopping more inspiring across Europe.”