The US clothing retailer Abercrombie & Fitch Co. has remained on record in recent weeks. In view of the surprisingly strong business development, the company increased its sales forecast on Monday.
“In December, we delivered record quarter-to-date numbers and exceeded our expectations published in November,” CEO Fran Horowitz said in a statement. “The increase in total sales was based on the development of like-for-like sales in all regions and for all brands in the Christmas season.”
For the fourth quarter, which ends at the beginning of February, management now expects a sales increase of seven to eight percent compared to the same period last year, adjusted for calendar effects. Previously, only an increase of five to seven percent was expected. The growth forecast for the entire financial year, which had previously been 14 to 15 percent, has been specified to 15 percent.
Operating margin targets remained unchanged. The company therefore continues to expect around 16 percent in the final quarter and around 15 percent for the year as a whole. In the coming financial year, the clothing supplier intends to continue its “sustainable, profitable growth,” explained Horowitz.