Abercrombie & Fitch news and archive

On a comeback: Abercrombie & Fitch stock outperforms Nvidia

Once a brand in decline, Abercrombie & Fitch, the iconic 1990s brand known for its preppy style, has made an unexpected comeback in the retail world, giving it the status of an unlikely market leader once again. The news was so significant that the Wall Street Journal dedicated an entire report to it: “Why Abercrombie & Fitch’s Stock Has...

Fashion

Abercrombie & Fitch launches capsule collection with Random Golf Club

Abercrombie & Fitch has partnered with Random Golf Club to create its first fan-based and performance capsule collection. The idea for the collaboration dates back to the organic friendship between Dan Gilligan, Abercrombie & Fitch’s general vice president of men’s design, and entrepreneur and golf enthusiast Erik Anders Lang. Founded by Erik...

Business

Abercrombie & Fitch posts strong Q1 growth, raises outlook

First quarter net sales at Abercrombie & Fitch of 1 billion dollars, were up 22 percent on a reported basis and constant currency basis with comparable sales up 21 percent. Gross profit rate of 66.4 percent, rose approximately 540 basis points, operating income increased to 130 million dollars and net income per diluted share rose to 2.14...

Fashion Featured

Abercrombie & Fitch launches The Wedding Shop for bridal & guest outfits

Abercrombie & Fitch Co. has expanded into with the launch of The Wedding Shop, a custom collection of more than 100 pieces designed for brides and guests. Following increasing customer interest in elegant, quality, yet affordable wedding outfits, Abercrombie & Fitch developed a collection of outfits for several wedding-related events, from...

Abercrombie & Fitch Q4 comparable sales increase 16 percent

Abercrombie & Fitch’s net sales for the fourth quarter of 1.5 billion dollars were up 21 percent on a reported and constant currency basis with comparable sales up 16 percent. Full year net sales of 4.3 billion dollars were up 16 percent on a reported basis and on a constant currency basis, while comparable sales increased 13 percent. Commenting...

People

Former Abercrombie & Fitch CEO reportedly under FBI investigation for alleged sexual crimes

Mike Jeffries, the former CEO of Abercrombie & Fitch, is reportedly under FBI criminal investigation over accusations that he sexually exploited young male models at events he masterminded around the world. Jeffries and his British partner Matthew Smith are also facing a civil lawsuit alleging that they oversaw a sex-trafficking operation,...

Business

Abercrombie & Fitch raises Q4 and full year sales outlook

Abercrombie & Fitch has increased its net sales and operating margin outlook for the fourth quarter and full year of fiscal 2023. The company now expects fourth quarter net sales to be up high-teens against previous outlook of low-single digits growth, operating margin to be around 15 percent compared to earlier estimate of in the range of 12 to...

Retail

Abercrombie & Fitch to open on Carnaby Street in London

US clothing and lifestyle retailer Abercrombie & Fitch has confirmed it's opening a new store on London’s Carnaby Street before Christmas. Located at 39 Carnaby Street, the store formerly housed Abercrombie & Fitch group-owned intimates and activewear retailer Gilly Hicks and will open to the public on December 15. The store will offer the brand...

Business

Abercrombie & Fitch halts payments to former CEO amid sex-trafficking allegations

American retailer Abercrombie & Fitch has reportedly said that it would suspend paying its former CEO additional retirement income after allegations of sex trafficking came to light. Prior to the announcement, Mike Jeffries was understood to be on the receiving end of lifetime bonus payments of around one million dollars, according to the BBC,...

Business

Abercrombie & Fitch raises outlook on strong Q3

Abercrombie & Fitch third quarter net sales of 1.1 billion dollars, were up 20 percent on a reported basis and up 19 percent on a constant currency basis. Total company comparable sales for the quarter increased 16 percent. The growth was led by Abercrombie brands with sales increase of 30 percent and Hollister brands, which delivered 11 percent...

Business

Abercrombie & Fitch names new board member

Abercrombie & Fitch has announced a new appointment to its board of directors, with Arturo Nuñez having joined the team from November 7, 2023. Nuñez, who makes up the tenth member of the board, is the founder and CEO of brand strategy firm AIE Creatives, prior to which he served as chief marketing officer of Nu Holdings Ltd, a Brazil-based...

Business

Abercrombie & Fitch to initiate investigation into former CEO Mike Jeffries

Abercrombie & Fitch has reportedly said an investigation into Mike Jeffries was underway after the BBC revealed a slew of exploitation allegations against the brand’s former chief executive officer. Jeffries came under the radar after claims of his involvement in an organised ring that exploited men at private sex events were brought to light...