other material
confidence high
sentiment positive
materiality 0.75
Abercrombie & Fitch raises Q4 sales outlook to +1-2% from -2-4% on strong holiday sales
ABERCROMBIE & FITCH CO /DE/
- Q4 net sales now expected up 1-2% (prior -2-4%); currency headwind ~210 bps (vs ~300 bps previously).
- Q4 operating margin guidance raised to 6-8% from 5-7%.
- Full-year net sales now expected down ~1% (prior -2-3%); operating margin 2.5-3% (prior 2-3%).
- Abercrombie brand women's business on track for highest Q4 sales ever; Hollister sales trend improved from Q3.
- Management targeting inventory at 2021 level by year-end; continuing key investments in technology, stores, supply chain.