Abercrombie & Fitch lifts annual sales forecast on strong holiday demand
The company also named insider Robert Ball as chief financial officer
ABERCROMBIE & Fitch lifted its annual sales forecast on Tuesday (Nov 26), betting on strong demand at its namesake label and its teen-focused Hollister brand.
The company also named insider Robert Ball as chief financial officer.
Abercrombie has doubled down on refreshing its product lines across denims, dresses and seasonal offerings as consumers remain picky and earmark their dollars for smaller luxuries such as jeans and in-vogue handbags.
Retailers, especially apparel sellers, have forecast a mixed holiday season this year ahead of Black Friday and Christmas, as consumers hold back on big purchases and wait for the best prices and deals.
The company now expects fiscal 2024 net sales to rise between 14 per cent and 15 per cent, compared with its prior forecast of 12 per cent to 13 per cent growth. REUTERS
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