Abercrombie & Fitch shares soared on upbeat outlook. The retailer raised its guidance for the full year, signaling a turnaround under new leadership..
Abercrombie & Fitch is seeing the results of its turnaround plan under new leadership, with the retailer raising its guidance for the full year, driving its shares up..
The company said it now expects net sales for the year to be $4.36 billion to $4.41 billion, up from its previous forecast of $4.3 to $4.36 billion..
Abercrombie & Fitch also lifted its earnings per share guidance to $3.07 to $3.17, from $2.95 to $3.10..
The news sent shares of Abercrombie & Fitch up more than 12% in premarket trading..
The company’s turnaround plan includes a focus on its core customer, a reduction in promotions, and an expansion of its assortments..
Abercrombie & Fitch has also been investing in its digital business and has launched a number of initiatives to improve the customer experience..
The company’s efforts are paying off, as evidenced by its recent financial results. In the fourth quarter, Abercrombie & Fitch reported a 1% increase in comparable sales and a 5% increase in net sales..
The company also saw strong growth in its digital business, with online sales increasing by 16%..
Abercrombie & Fitch is not the only retailer that is seeing success with a turnaround plan. American Eagle Outfitters, Gap, and J.Crew have all reported improved financial results in recent quarters..
These retailers are benefiting from a number of factors, including strong consumer spending, a shift towards value-oriented shopping, and the decline of fast fashion..
Abercrombie & Fitch is well-positioned to continue its turnaround under the leadership of CEO Fran Horowitz. The company has a strong brand, a loyal customer base, and a clear strategy for growth..
Here are some additional details about Abercrombie & Fitch’s outlook for the full year:.
* Net sales are expected to be $4.36 billion to $4.41 billion, up from $4.3 to $4.36 billion..
* Earnings per share are expected to be $3.07 to $3.17, from $2.95 to $3.10..
* Comparable sales are expected to be up 1% to 2%..
* Digital sales are expected to grow by 15% to 20%..
Abercrombie & Fitch is confident in its ability to achieve its financial targets. The company has a strong team in place and a clear strategy for growth..
Investors are clearly bullish on Abercrombie & Fitch, as evidenced by the recent surge in its share price. The company is well-positioned to continue its turnaround under the leadership of CEO Fran Horowitz..
