Abercrombie & Fitch ups sales outlook

Abercrombie & Fitch expects to complete the year with net sales growth around 15 percent, as well as a strong operating margin around 15 percent. The company previously expected sales to rise between 14 percent and 15 percent for the period.

Last year, the company’s holiday sales were up by 21 percent compared with the year prior to that, while its full year sales growth outlook is similar to that of last year, when the revenues increased by 16 percent.

Commenting on the trading update, Fran Horowitz, the company’s chief executive officer, said: “Through fiscal December, we delivered record quarter-to-date net sales, exceeding the expectations we provided in November. Total net sales growth was supported by comparable sales across regions and brands through the holiday selling period.”

With the updated 2024 outlook, the company foresees significant outperformance of the “always forward plan 2025” financial targets provided in June of 2022.

“In 2025, we will look to continue sustainable, profitable growth through the execution of our playbooks to win and retain customers around the world. Our goal is to leverage our healthy margin structure and balance sheet to grow operating income dollars and earnings per share at rates faster than sales to drive long-term shareholder value,” added Horowitz.