We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Jan 29, 20208:44am

Abercrombie confirms its outlook for Q4

The fashion distribution company has achieved record profits in the United States for Black Friday and Hollister is positioned as the group’s strongest brand.

Jan 13, 2020 — 7:14pm
MDS
Save
Abercrombie confirms its outlook for Q4

 

 

Abercrombie & Fitch confirms its forecasts for the last fiscal quarter of 2019. After closing the year with a record Black Friday in profits, the group’s objective for the year as a whole remains as planned.

“We are pleased to reaffirm our fourth quarter outlook. We experienced record revenues in the US over Black Friday week, which includes the Tuesday before Thanksgiving through Cyber Monday,” said Fran Horowitz, the company’s chief executive officer, according to a press release.

 

As the press release issued last November announced, the company expects to end the fourth quarter with a 1% increase in its revenues. Although the result is positive, Abercrombie will reflect an adverse impact from changes in foreign currency exchange rates of approximately 5 million dollars. In addition, the group has revised comparable sales to be in the range of flat to up to 2%, a contrast from the positive comparable sales of 3% last year.

 

“We remain focused on executing to our key transformation initiatives and will provide an update on our progress when we report fourth quarter results,” highlighted the CEO of the Abercrombie group.

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...