Abercrombie & Fitch (ANF) rises on lifted full-year guidance

Abercrombie & Fitch (NYSE: ANF) raised its full-year net sales forecast today and is now expecting an increase of 14% to 15%, up from the previous guidance of 12% to 14%.

The clothing retailer also provided an optimistic outlook for the fourth quarter, anticipating net sales to be up in the high-teens, compared to the earlier projection of up in the low double-digits.

Additionally, the operating margin for the fourth quarter is expected to be around 15%, surpassing the previous range of 12% to 14%.

ANF shares were up 1.1% in pre-open trade.

For the full fiscal year, Abercrombie & Fitch now forecasts an operating margin of around 11%, an improvement from the earlier guidance of around 10%.

Fran Horowitz, Chief Executive Officer, said: “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.”

Horowitz added that “each of our brands continued to deliver solid sales growth led by Abercrombie brands.”

By Senad Karaahmetovic

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