Abercrombie & Fitch: annual forecasts revised upwards – 01/09/2023 at 14:16

Abercrombie & Fitch: annual forecasts revised upwards – 01/09/2023 at 14:16

(CercleFinance.com) – Abercrombie & Fitch Co. announced on Monday an upward revision of its objectives for the fourth quarter and the full year 2022, following a end to the year described as successful.

The American ready-to-wear brand, which notably owns the Hollister brand, indicates that it has raised its sales growth forecasts, but also its operating margin objectives.

The Ohio-based company now expects net revenue growth of between 1% and 2% in the fourth quarter, while it so far forecast sales down 2% to 4 %.

Its operating margin is expected between 6% and 8% over the last three months of the financial year, against a previous estimate ranging from 5% to 7%.

For the full year, Abercrombie anticipates net sales down about 1%, and no longer down 2% to 3%, for an operating margin ranging from 2.5% to 3%, against 2 % to 3% previously.

In its press release, the company said it benefited from the solid performance of its sales of women’s clothing, a trend which was accompanied by an acceleration of sales in men’s ready-to-wear.

Its title was expected to rise more than 3% Monday morning at the opening of the New York Stock Exchange.

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