Abercrombie&Fitch "cautiously optimistic" on 2023 customer demand
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Abercrombie & Fitch posts a fall in quarterly profit
March 1, 2023 7:41 AM EST(Reuters) - Abercrombie & Fitch Co on Wednesday reported a 41.5% drop in quarterly profit, as higher labor costs and inflationary pressures squeezed margins.
The company's net income attributable to Abercrombie fell to $38.3 million, or 75 cents per share, in the fourth quarter, from $65.5 million, or $1.12 per share, a year earlier.
... MoreAbercrombie & Fitch (ANF) Misses Q4 EPS by 5c, Revenue Beats, Offers Outlook
March 1, 2023 7:32 AM ESTAbercrombie & Fitch (NYSE: ANF) reported Q4 EPS of $0.81, $0.05 worse than the analyst estimate of $0.86. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.18 billion.
Fiscal 2023 Full Year Outlook:
For fiscal 2023, the company expects:
Net sales growth in the range of 1 to 3% from $3.7 billion in 2022 with the expectation that Abercrombie will continue to outperform Hollister and the U.S. will continue to outperform... More