Posted 3/6/2024, 12:41:39 PM
Abercrombie & Fitch Beats Q4 Estimates, Forecasts Strong 2023 Growth on Apparel Demand Boost
- Abercrombie & Fitch forecasts full-year revenue growth above estimates, betting on strong apparel demand
- Benefited from efforts to reduce inventories and introduce fresh styles during holiday season
- Ramped up marketing and invested in digital and in-store experiences in reported quarter
- Forecasts Q1 net sales growth in low double digits, better than estimates
- Posted Q4 revenue of $1.45 billion, topping expectations; Q4 EPS also beat estimates