Abercrombie exploring options for China business - report

Investing.com -- Abercrombie & Fitch Co. is reviewing options for its China operations, including the possibility of bringing in local partners, Bloomberg reported Tuesday.

The fashion retailer is working with an adviser on the review of its Chinese assets, according to the report. The company may sell a stake in the unit, which could be valued at several hundred million dollars.

The deliberations remain at an early stage and may not result in a transaction.

Abercrombie, which maintains regional headquarters in Shanghai, has encountered challenges in the Chinese market.

The company reported net sales of $1.1 billion for the quarter ended May 2, a slight increase from the same period a year earlier. Net income fell nearly 17% to $67 million.

The New Albany, Ohio-based retailer sells apparel, personal care products and accessories through its Abercrombie and Hollister brands. The company operates retail stores and digital channels, and maintains a third-party wholesale business and franchise arrangements.

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