Abercrombie & Fitch Boosts Q4 Outlook On Solid Holiday Sales

  • Abercrombie & Fitch Co ANF has raised its fourth-quarter FY22 sales outlook from a 2% - 4% decline to an increase of 1% - 2%.
  • It also raised the operating margin outlook from 5% - 7% to 6% - 8%.
  • "Our brands performed well during the peak holiday selling period, delivering sequential sales trend improvement from third quarter levels, leading us to increase our fourth quarter sales and operating margin outlook," said CEO Fran Horowitz.
  • For Hollister, the company expects to finish Q4 with sales below 2021 levels. However, the sales trend improved nicely from the third quarter.
  • The retailer now expects FY22 sales to decline around 1% versus the previously expected decline of 2% - 3%.
  • The company revised the range of the FY22 operating margin from 2% – 3% to 2.5% - 3%.
  • Moving into 2023, the company continues to balance playing both offense and defense in this evolving macroeconomic environment.
  • The company said it manages operating expenses tightly and continues to target an inventory level consistent with 2021 by year-end.
  • Also ReadMorgan Stanley Thinks Retailers Will Ramp Up Discounting In January
  • Price Action: ANF shares are trading higher by 9.84% at $27.68 on the last check Monday.
  • Photo Via Company
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