Abercrombie & Fitch: good end to the year, forecasts raised

(CercleFinance.com) - Abercrombie & Fitch announced on Monday that it had raised its growth forecasts for the 4th quarter, as well as for its current financial year as a whole, following better-than-expected sales during the holiday season.


The American ready-to-wear group now says it expects net sales growth of 7% to 8% for its 4th quarter, which will close at the beginning of February, rather than 5% to 7% as previously indicated.

For the full fiscal year 2024/2025, which also ends in February, the New Albany, Ohio-based company now says it expects growth of around 15%, compared with a previous forecast of between 14% and 15%.

Abercrombie did, however, reiterate its operating margin targets, which are still expected to be around 16% for the fourth quarter and 15% for the year as a whole, which seemed to disappoint investors.

In pre-market trading, Abercrombie & Fitch shares fell by more than 7% on Monday morning following this trading update.

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