Hollister to open

Abercrombie & Fitch Co subsidiary Hollister has confirmed it will enter the Australian market in 2013.

The plans were revealed during an annual earnings conference call, where Australia was listed among 20 international chain store openings for the year.

Abercrombie & Fitch Co EVP and CFO Jonathan Ramsden said most openings are aimed at tapping new markets.

“Overall these openings will be focused on underpenetrated markets where we expect minimum cannibalization,” he said.

“They will include our first stores in Australia and likely the Middle East.”

Hollister has 28 stores in the UK, 17 in Germany and 12 in Canada.

Hollister has yearly sales of $485.6 million.

Abercrombie & Fitch Co expects new store openings in 2012 to contribute $200 million in sales growth.

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