US retailer Abercrombie & Fitch eyes high-teen sales growth in Q4 FY23

09 Jan '24

1 min read

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Insights

Abercrombie & Fitch Co forecasts a high-teens percentage increase in Q4 FY23 net sales, up from previous low double-digit predictions.
The Q4 operating margin is expected around 15 per cent, surpassing earlier 12-14 per cent estimates.
For FY23, the company projects 14-15 per cent net sales growth, an improvement over the initial 12-14 per cent forecast.

Abercrombie & Fitch Co, a leading US-based retailer, has projected net sales to increase by a high-teens percentage for the fourth quarter of fiscal 2023 (Q4 FY23), an upgrade from the previously forecasted low double-digit growth. The company expects its operating margin for Q4 FY23 to be around 15 per cent, a notable improvement from the earlier estimate of 12 per cent to 14 per cent.

Looking at the full fiscal 2023 (FY23), Abercrombie & Fitch Co now anticipates net sales growth of 14 per cent to 15 per cent, an increase from the previously forecasted range of 12 per cent to 14 per cent.

Furthermore, the operating margin for FY23 is expected to be around 11 per cent, slightly higher than the previously estimated figure of around 10 per cent, the company said in a media release.

“Consistent with the first three quarters of 2023, our customers responded positively to compelling product assortments and engaging marketing leading us to increase our fourth quarter and full year net sales and operating margin outlook. We expect to deliver fourth quarter net sales growth across regions led by continued strength in the Americas,” said? Fran Horowitz, chief executive officer.

Fibre2Fashion News Desk (DP)

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