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Abercrombie & Fitch Co. Achieves Record U.S. Black Friday Week Revenues; Reaffirms Fourth Quarter Outlook 
13
Jan '20

NEW ALBANY, Ohio, Jan. 13, 2020 (GLOBE NEWSWIRE) Abercrombie & Fitch Co. (NYSE: ANF) today announced that it is reaffirming its previously issued outlook for the fourth quarter of fiscal 2019 as follows: 

  • Net sales to be in the range of flat to up 2%, reflecting an adverse impact from changes in foreign currency exchange rates of approximately $5 million.
  • Comparable sales to be in the range of flat to up 2%, against positive comparable sales of 3% last year. 
  • Gross profit rate to be down approximately 150 basis points as compared to fiscal 2018 rate of 59.1%, reflecting a combined adverse impact of 70 basis points from changes in foreign currency exchange rates and anticipated China tariffs.
  • Operating expense, excluding other operating income, to be in the range of flat to up 2% from fiscal 2018 adjusted non-GAAP operating expense of $555 million.

Fran Horowitz, Chief Executive Officer, said:

“We are pleased to reaffirm our fourth quarter outlook. We experienced record revenues in the U.S. over Black Friday week, which includes the Tuesday before Thanksgiving through Cyber Monday, with Hollister setting a new record and momentum at Abercrombie continuing to build, delivering its strongest topline in over five years. For the quarter, we expect Abercrombie comps to outperform Hollister and the U.S. to outperform international. We remain focused on executing to our key transformation initiatives and will provide an update on our progress when we report fourth quarter results.”

About Abercrombie & Fitch Co. 

Abercrombie & Fitch Co. (NYSE: ANF) is a leading, global specialty retailer of apparel and accessories for Men, Women and Kids through three renowned brands. For over 125 years, the iconic Abercrombie & Fitch brand has outfitted innovators, explorers and entrepreneurs. Today, the brand reflects the updated attitude of the 21 to 24-year old customer, while remaining true to its heritage of creating expertly crafted products with an effortless, American style. The Hollister brand epitomizes the liberating and carefree spirit of the endless California summer for the teen market. abercrombie kids creates smart, playful apparel for children ages 5-14, celebrating the wide-eyed wonder of childhood. 

The brands share a commitment to offering products of enduring quality and exceptional comfort that allow consumers around the world to express their own individuality and style.

(This story has not been edited by Fibre2Fashion staff and is published from a syndicated feed.)


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