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☆ Abercrombie & Fitch beats holiday estimates as sales soar again, helped by higher prices
▼ + stars: | 2024-03-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Abercrombie & Fitch said Wednesday that its holiday-quarter sales jumped 21% and its profits grew thanks to higher prices and lower raw material costs. For the current quarter, Abercrombie expects sales to rise by a low double digit percentage, compared to estimates of up 7.2%, according to LSEG. During the quarter, comparable sales grew 16% and gross margin came in at 62.9%, 7.2 percentage points higher than the year ago period. "Our strong fourth quarter was fueled by sales growth across regions and brands. In early January, Abercrombie raised its fourth quarter and full-year outlook after holiday sales came in better than expected.

Persons: Fitch, Abercrombie, Fran Horowitz, Horowitz, influencers, Hollister, they'll Organizations: Abercrombie, Fitch, Fitch Co, LSEG, Fitch's Locations: New York, Hollister

Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.

Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, —, Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's

☆ I'm a millennial who visited Abercrombie to see firsthand why my generation is falling back in love with the brand and helping boost sales
▼ + stars: | 2024-01-12 | by ( Jennifer Ortakales Dawkins | Mary Hanbury | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Wooden blinds covered the windows, and the store was so dimly lit that you could barely see what was inside. Under the leadership of Fran Horowitz, who's been the brand's CEO since 2017, Abercrombie has undergone drastic changes. AdvertisementIn January, Abercrombie increased its fourth-quarter sales and its 2023 outlook. I've visited Abercrombie and Fitch stores to see why millennials have fallen back in love with the clothing brand.

Persons: —, Fitch, Abercrombie, millennials, Fran Horowitz, who's, Neil Saunders, Horowitz, I've, Jennifer Ortakales Dawkins Organizations: Service, Abercrombie, Business, GlobalData, Revenues, Nvidia, Fitch Locations: cologne

☆ A dilapidated castle built by an Abercrombie & Fitch cofounder is on sale for $2.9 million
▼ + stars: | 2024-01-11 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +3 min

Abercrombie & Fitch cofounder David T. Abercrombie's castle is on sale in New Castle, New York. AdvertisementA castle built by an Abercrombie & Fitch cofounder could be yours for just short of $3 million. Fee Sotheby's International Realty , was completed in 1927 by David T. Abercrombie, the cofounder of Abercrombie & Fitch, according to its listing on Realtor. Abercrombie founded the Abercrombie Company in 1892 as a sporting goods store, the company's website states. It became Abercrombie & Fitch in 1904 when Ezra Fitch joined as Abercrombie's partner, but Abercrombie left the company by 1910 when it opened its first department store.

Persons: David T, it's, —, Christina Diminno, Julia B, Abercrombie, Abercrombie &, William Pitt Julia B, Elizabeth, Lucy, David, Abbott —, Diminno, Abercrombie's, It's, Ezra Fitch Organizations: Abercrombie, Fitch, Service, Abercrombie & Fitch, Westchester Magazine, Morgan, Corp, Abercrombie Company, Gen Locations: New Castle , New York, Manhattan, Scottish

☆ Abercrombie & Fitch raises outlook after quarterly sales surge 20%
▼ + stars: | 2023-11-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Abercrombie & Fitch on Tuesday blew past estimates as it posted a 20% jump in sales thanks to a strong back-to-school shopping season and growth at both its namesake brand and Hollister. For its fourth quarter, Abercrombie expects net sales growth to be up low double-digits compared to the prior year, which is in line with the 11.6% growth analysts had expected, according to LSEG. The expected uptick is driven by a higher gross profit rate, lower freight costs and higher sales prices. Abercrombie CEO Fran Horowitz told analysts the company has seen an "encouraging" start to the holiday shopping season. During the quarter, Abercrombie saw sales at its namesake brand grow by 30% to $548 million and revenue at Hollister grow by 11% to $509 million.

Persons: Fitch, Abercrombie, Fran Horowitz, " Horowitz, Horowitz, we've Organizations: Abercrombie, LSEG, Eagle Locations: Hollister

☆ Watch CNBC's full interview with Abercrombie & Fitch CEO Fran Horowitz
▼ + stars: | 2023-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Abercrombie & Fitch CEO Fran HorowitzFran Horowitz, Abercrombie & Fitch CEO, joins 'Squawk on the Street' to discuss where the momentum in Abercrombie's business is coming from, what Abercrombie's growth prospects look like, and more.

Persons: Fran Horowitz Fran Horowitz Organizations: Abercrombie, Fitch

☆ Abercrombie & Fitch CEO: Momentum is 'absolutely' sustainable with big opportunities internationally
▼ + stars: | 2023-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAbercrombie & Fitch CEO: Momentum is 'absolutely' sustainable with big opportunities internationallyFran Horowitz, Abercrombie & Fitch CEO, joins 'Squawk on the Street' to discuss where the momentum in Abercrombie's business is coming from, what Abercrombie's growth prospects look like, and more.

Persons: Fran Horowitz Organizations: Abercrombie, Fitch

"In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," Best Buy CEO Corie Barry said. U.S. holiday sales are expected to rise at its slowest pace in five years, according to data from the National Retail Federation, as Americans are likely to pull back on holiday shopping. REUTERS/Bing Guan/File Photo Acquire Licensing RightsLast week, industry bellwether Walmart (WMT.N) warned of cautious consumer spending as the holiday shopping season gets underway. Retail executives said higher interest rates, inflation and a resumption in student loan repayments will keep consumer wallets under pressure. Still, some investors expect holiday sales starting Black Friday to hold "some positive surprises."

Persons: Corie Barry, Bing Guan, Fitch, David Silverman, Marvin Ellison, Thomas Hayes, Rachel Wolff, Ananya Mariam Rajesh, Savyata Mishra, Granth Vanaik, Juby Babu, Shounak Dasgupta Organizations: National Retail Federation, REUTERS, Walmart, Retail, Apparel, Abercrombie, Fitch, American Eagle Outfitters, Insider Intelligence, Thomson Locations: United States, SoHo, New York City, U.S, Bengaluru

☆ Morgan Stanley says consumers looking for 30% discounts on holiday shopping before buying, sell retail stocks
▼ + stars: | 2023-11-09 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Morgan Stanley highlighted several companies that are prepared to withstand — and even benefit from —consumers' shifting preferences this holiday season, as inflationary pressures dampen shoppers' budgets this quarter. According to Morgan Stanley's proprietary monthly survey, most holiday shoppers are looking to see 30% discounts, on average, before they begin spending this holiday season. A strong holiday season should benefit the entire airline industry given the ongoing demand for air travel among consumers across income brackets, according to Morgan Stanley. "Durable goods spending has slowed and that is expected to continue into the holiday season," Wilson said in the note. Toys could emerge as "relative winner" this season as they become a more top-of-mind purchase for parents during the holiday season, analyst Megan Alexander wrote.

Persons: Morgan Stanley, Michael Wilson, Morgan, They're, Ravi Shanker, Wilson, Amazon's, Brian Nowak, Lauren Schenk, Chewy, Morgan Stanley's, Alex Straton, Megan Alexander Organizations: Consumers, Delta Airlines, American Airlines and United Airlines, Southwest Airlines, Alaska Air Group, Apparel, Urban Outfitters, Abercrombie, Fitch Locations: Delta, U.S

☆ Abercrombie & Fitch, ex-CEO sued over sex abuse and trafficking accusations
▼ + stars: | 2023-10-27 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Abercrombie and Fitch is in the midst of a major comeback, but the retailer is still being haunted by the alleged sins of former chief executive Mike Jeffries. The company was sued Friday for turning a blind eye to Jeffries' alleged misconduct, court records show. He's accused of running a sprawling sex trafficking ring that exploited young men hoping to become models for the brand. It comes just weeks after the BBC published an investigation into Jeffries and Abercrombie that made similar accusations. Following the event, Bradberry was flown to Nice, France, where he was again forced to perform sex acts on Jeffries, the suit states.

Persons: Abercrombie, Fitch, Mike Jeffries, Jeffries, He's, who's, Brian Bieber, didn't, Mr, Bieber, David Bradberry, Bradberry, Michael Jeffries, lightheaded, Andrews, Leslie Wexner, Fran Horowitz, Wall Organizations: BBC, CNBC, Hamptons, Alcott Locations: Manhattan, Nice, France

☆ Cramer's Lightning Round: Caterpillar is a buy
▼ + stars: | 2023-09-29 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Caterpillar's year-to-date stock performance. Stock Chart Icon Stock chart icon Abercrombie's year-to-date stock performance. Stock Chart Icon Stock chart icon Exxon's year-to-date stock performance. Stock Chart Icon Stock chart icon Ardelyx's year-to-date stock performance. Stock Chart Icon Stock chart icon Fubo's year-to-date stock performance.

Persons: Abercrombie, Fran Horowitz, I've, It's, Jim Cramer's Organizations: Exxon

☆ Abercrombie & Fitch raises sales forecast as new clothing styles attract shoppers
▼ + stars: | 2023-08-23 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in Manhattan, New York City, U.S., February 27, 2017. Revenue from the Abercrombie brand rose 26% in the quarter, while that from Hollister recorded its first growth, with an 8% rise, following a decline in the past five quarters. Abercrombie now expects fiscal 2023 net sales to rise around 10%, compared with its prior forecast range of 2% to 4% growth. Its per-share profit of $1.10, for the three months ended July 29, crushed estimates of 17 cents, according to Refinitiv IBES data. Reporting by Deborah Sophia in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Abercrombie, Fran Horowitz, Rachel Wolff, They've, Wolff, Hollister, Deborah Sophia, Shweta Agarwal Organizations: Abercrombie, Fitch, REUTERS, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Abercrombie & Fitch CEO: Today, the company is 'truly a lifestyle brand'
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAbercrombie & Fitch CEO: Today, the company is 'truly a lifestyle brand'Fran Horowitz, Abercrombie & Fitch CEO, joins 'Squawk on the Street' to discuss Abercrombie's stand-out retail earnings beat, the changes Abercrombie has made to store offerings, and overcoming supply chain challenges through inventory testing.

Persons: Fran Horowitz, Abercrombie Organizations: Abercrombie, Fitch

☆ I visited Abercrombie & Fitch for the first time in 12 years. I was shocked by how much it's changed and now I see why sales are booming.
▼ + stars: | 2023-07-29 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +1 min

I shopped at Abercrombie & Fitch's new store on Fifth Avenue in Manhattan. I was surprised by how sophisticated everything was, including the store's design and the clothing. So I was surprised to see the company's new location on Fifth Avenue in Manhattan — it felt like a different brand. "This is truly the most powerful brand transformation that I've seen in my career," CEO Fran Horowitz told analysts in an earnings call in May. That brand transformation was evident during my recent trip to Abercrombie's store.

Persons: millennials, Abercrombie, Fran Horowitz Organizations: Abercrombie, Service, Fitch, millennials Locations: Manhattan, Wall, Silicon

☆ Abercrombie, American Eagle signal upbeat holiday-quarter sales
▼ + stars: | 2023-01-09 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Abercrombie & Fitch Co (ANF.N) and American Eagle Outfitters Inc (AEO.N) issued upbeat holiday-quarter sales forecasts on Monday as consumers snapped up their winter wear during the peak shopping season. Shares of Abercrombie, which owns the Hollister label, jumped more than 9%, while American Eagle climbed about 3%. It projected fourth-quarter operating margin between 6% and 8%, up from a range of 5% to 7% estimated previously. American Eagle also said its fourth-quarter revenue and profit margins were tracking at the high end of its forecasts, benefiting from its decision to right-size inventory and a better-than-expected performance at its American Eagle label. Last week, department store chain Macy's Inc (M.N) projected holiday-quarter sales toward the lower end of its previous forecast.

☆ Our Abercrombie brand is not as pressured as the Hollister consumer, says ANF CEO
▼ + stars: | 2022-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur Abercrombie brand is not as pressured as the Hollister consumer, says ANF CEOFran Horowitz, Abercrombie and Fitch CEO, joins 'Closing Bell' to discuss the big surprise in the company's quarter, how investors should look at Abercrombie's raised guidance and what its pricing will look like this holiday season.

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