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Search resuls for: "Fitch Co"


2 mentions found


☆ Abercrombie posts surprise profit, sees better holiday-quarter sales
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +2 min
Nov 22 (Reuters) - Abercrombie & Fitch Co (ANF.N) on Tuesday posted a surprise third-quarter profit and forecast a smaller-than-expected drop in current-quarter sales as it remains "cautiously optimistic" for the holiday season. The Ohio-based retailer's shares were up about 14% in premarket trading after the company also reported better-than-expected third-quarter sales even as inflation dampened discretionary consumer spending. Abercrombie expects fourth-quarter net sales to fall about 2% to 4% in fiscal 2022, compared with analysts' average estimate of a 6.3% drop, according to Refinitiv IBES data. Excluding items, Abercrombie reported a profit of 1 cent per share in the third quarter, compared with estimates of a loss of 16 cents. The company's net sales fell 2.8% to $880.1 million, but beat estimates of $831.1 million.
☆ Hollister Lets Teens Send Their Online Carts to Parents for Checkout
  + stars: | 2022-10-11 | by ( Katie Deighton | ) www.wsj.com   time to read: +5 min
Hollister Co., the Abercrombie & Fitch Co. retailer popular among teens, is rolling out a new system that lets shoppers pass their carts to someone else for payment. “There was a lot of lost sales on the table,” said Samir Desai, chief digital and technology officer at Abercrombie & Fitch Co. The Share2Pay system will initially only be available to customers in the U.S. and U.K. using the Hollister app. It lets shoppers send their shopping carts to the ultimate buyer via text message in lieu of a traditional checkout mechanism. Shoppers using the Share2Pay system can send their baskets to their designated buyers along with a note.
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