Abercrombie & Fitch increases Q4 revenue outlook to up high-teens

From up low double-digits, consensus $1.36B. 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. We expect to deliver fourth quarter net sales growth across regions led by continued strength in the Americas. Each of our brands continued to deliver solid sales growth led by Abercrombie brands. The Abercrombie & Fitch women’s business is expected to achieve its highest-ever fourth quarter sales complemented by an acceleration in men’s growth. At Hollister brands, we expect to deliver year-over-year fourth quarter sales growth led by the women’s business. Continuing a trend of profitable growth, we expect Hollister brands will also achieve significant fourth quarter gross profit rate expansion, enabled by improved product and inventory management. ”