Posted 3/6/2024, 2:46:09 PM
Abercrombie & Fitch Forecasts Slower Growth After Strong Pandemic Rebound
- Abercrombie & Fitch forecasts slower revenue growth of 4-6% for the full year, down from 21% growth last year
- The apparel retailer has seen 5 straight quarters of revenue increases, outperforming struggling peers
- Abercrombie credits categories like dresses, pants, and activewear for fueling recent growth
- Comparable sales rose 28% for the Abercrombie brand and 6% for the Hollister brand last quarter
- Abercrombie stock has risen over 400% in the last 12 months but shares fell on the latest outlook