Abercrombie & Fitch Co. (ANF), a leading international specialty retailer, reported strong holiday sales as U.S. retailers performed relatively better this year compared to the dismal holiday season of 2008. According to the data released by SpendingPulse, a unit of MasterCard Advisors, U.S. retail sales reportedly increased 3.6% during the period Nov 1 to Dec 24, 2009.
Abercrombie increased its holiday promotions to capitalize on the shopping spree of U.S. customers, and offered up to 50% off on some of its branded merchandise. In addition, discounts of as high as 70% were offered on its Hollister line of products. As U.S. customers have become more price-conscious and bargain for discounted value-for-money items, Abercrombie products have become instant hits recording huge sales.
Abercrombie operates as a specialty retailer of premium, high quality casual apparels for men, women, and kids through a network of 1,132 stores across the U.S., Canada and the U.K. Over the years, the company has extensively relied on its line-up of leading product labels including Abercrombie & Fitch, Hollister and Abercrombie Kids and a unique in-store experience to drive sales. The product portfolio of the company includes knitted and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, outerwear, personal care products and accessories.
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