RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • Newsletter
  • Contact & Route
Members' area
  • Log in
  • Become a member
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • Events
    • OVERVIEW EVENTS
    • EVENT PARTNERSHIPS
  • Advertising
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
  • Members’ area
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • Newsletter
  • Contact & Route
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • Events
    • OVERVIEW EVENTS
    • EVENT PARTNERSHIPS
  • Advertising
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
  • Members’ area
Members' area
  • Log in
  • Become a member
thumb
Written by Pauline Neerman
In this article
  • Companies Abercrombie & Fitch
  • Topics Financial results
  • Geography United States
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Abercrombie & Fitch manages to bounce back

icon
Fashion30 May, 2023

Abercrombie & Fitch is pulling off a huge turnaround: the American fashion group is revising its expectations upwards, following a successful first quarter and thanks to a “solid balance sheet”.

Better than expected

Abercrombie & Fitch says its balance sheet is once again solid; so much so that CEO Fran Horowitz is “cautiously optimistic” for 2023 as a whole, despite a “dynamic macro environment”. The fashion group, which was all the rage in the early 2000s before plummeting, is also raising its sales growth forecast for this year from 1 to 3 % to 2 to 4 %.

In the first quarter of this year, sales have already exceeded forecasts as net sales rose by 3 % to 836 million dollars (775 million euros). The flagship Abercrombie brand saw its sales rise by 14 % to 436 million dollars (400 million euros), while Hollister lost 7 % of its sales – ending at 400 million dollars (370 million euros). The group did however close a number of shops in the last quarter.

A new approach

Hollister is now focusing on youthful sportslovers, while Abercrombie wants to attract young professionals. To achieve this, CEO Horowitz is making extensive use of social media, a strategy that seems to be paying off: operating profit rose to 34 million dollars (30 million euros), while last year there was a loss of 10 million dollars.

Since 2017, Fran Horowitz has been trying to pull Abercrombie & Fitch up from the rock-bottom to which the group was dragged by its former CEO Mike Jeffries. His strategy of only being there for “thin, beautiful people” blew up in his face, and resulted only in lot of criticism and even discrimination lawsuits. His successor is now playing the inclusion and digitisation cards.

More about... Fashion
See more
  • icon
    Fashion18 July, 2025
    Louis Vuitton suspect in Dutch money laundering case

    Louis Vuitton has officially been designated as a suspect by the Dutch Public Prosecution Service in a large-scale money laundering case. According to the judiciary, the French luxury brand did not do enough to prevent abuse by a criminal customer.

  • icon
    Fashion18 July, 2025
    “Kering already looking to sell Valentino”

    Kering and investment firm Mayhoola are reportedly considering selling fashion house Valentino. The potential sale comes at a time when Kering is facing declining demand for luxury products.

  • icon
    Fashion18 July, 2025
    Burberry restructuring stems bleeding

    Burberry sees the first signs of recovery: the luxury fashion brand reports a smaller decline in revenue in the first quarter after beginning its restructuring process. Growth in America and the EMEIA region compensates for disappointing figures in Asia.

Events
  • 17
    Sep
    CAPTAINS OF RETAIL 2025 – EDITION II
  • 25
    Sep
    RETAIL MARKETING DAY 2025
Most read
  • icon
    General20 June, 2025
    Fashion and hospitality boost El Corte Inglés’ profits
  • icon
    Food27 June, 2025
    Kaufland reorganizes its marketing department following Lidl’s example
  • icon
    General10 July, 2025
    “New” Pepco reports record revenue after Poundland sale
  • icon
    Electronics19 June, 2025
    “More than half of all consumer electronics will be sold online by 2026”
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform The Loop, where retailers and their suppliers can experience the future of shopping.
Mailing Address
Kolveniersstraat 7, bus 26 2000 Antwerp
Visiting address
Stadsfeestzaal – Meir 78 2000 Antwerp
How to reach us:
Directions
© 2025 RetailDetail
general conditions | privacy policy
Contact us About us info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT