Abercrombie & Fitch may have had decent Christmas sales, but that does not seem to be enough to save the entire financial year for the American fashion retailer, which is revising its outlook downward.
Increased investments
According to CEO Fran Horowitz, the retailer pursued an aggressive strategy during the holiday season, which led to a 6% increase in sales during the Christmas period. Nevertheless, she is slightly adjusting the outlook: for the fourth quarter, the fashion chain is expecting sales growth of around 5%, compared to the previously announced range of 4% to 6%. For the full year, the group expects net sales growth of “at least” 6%, instead of the previous outlook of “in the range of” 6% to 7%.
