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|1y Target Est||51.00|
A. Bank continued its trend of stabilization as sales decreased in the first quarter but not by as much as the previous year. The Hampstead-based men's retailer's net sales declined 6.3 percent to $167.2 million for the quarter ending April 29, compared to last year when when net sales declined by more than 17 percent to $178.5 million. Last year comparable sales declined 16 percent.
A. Bank brand is on a path toward "sustained profitable growth" as its sales have begun to stabilize. The Hampstead-based brand saw net sales decline 4.7 percent to $219.4 million in the fourth quarter, a vast improvement from a 31.7 percent decrease in the same quarter last year. A. Bank has seen 119 stores close since Jan. 30, 2016.
Wunderlich said in a report Tuesday it expects 2017 to be another transition year for retailers, as the shift from brick-and-mortar to omnichannel continues. The firm expects 2017 to be another period ...