×
93 038
Fashion Jobs
FABLETICS
Director, Technical Design - Yitty
Permanent · EL SEGUNDO
PUMA
Manager, Basketball Marketing
Permanent · Somerville
BANANA REPUBLIC
General Manager - Destiny Mall
Permanent · Syracuse
BANANA REPUBLIC
General Manager - Seattle Premium
Permanent · Tulalip Bay
NORDSTROM
Retail Stock & Fulfillment - Northshore
Permanent · Peabody
NORDSTROM
Asset Protection Agent - Boca Raton Towne Center
Permanent · Boca Raton
NORDSTROM
Asset Protection - Agent - Metro Pointe at South Coast Rack
Permanent · Costa Mesa
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Tacoma
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Jeffersonville
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Butler
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Herndon
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Ames
TAPESTRY
Manager, Supply Operations
Permanent · New York
TAPESTRY
Manager, Ecommerce Content & Strategy
Permanent · New York
GAP
General Manager - mt. Pleasant t/c
Permanent · Mount Pleasant
NEW BALANCE
Senior Financial Analyst
Permanent · Boston
JCREW
District Manager
Permanent · Sugar Land
SACK OFF 5TH
Asset Protection Investigator
Permanent · CHARLOTTE
SACK OFF 5TH
Asset Protection Guard
Permanent · ATLANTA
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Soho
Permanent · NEW YORK
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Short Hills
Permanent · Millburn
ATHLETA
Assistant General Manager - Park Meadows
Permanent · Lone Tree
By
Reuters
Published
Nov 23, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Abercrombie sees better holiday-quarter sales, posts surprise profit

By
Reuters
Published
Nov 23, 2022

Abercrombie & Fitch Co said on Tuesday it was “cautiously optimistic” about the holiday season and forecast a smaller-than-expected drop in current-quarter sales after resilient demand led to a surprise quarterly profit.


Abercrombie & Fitch


The Ohio-based apparel retailer’s shares that have lost nearly half of their value this year were up about 19 percent after the company also reported third-quarter sales above Wall Street estimates, defying inflation’s impact on non-essential spending.

Chief executive officer Fran Horowitz in a post-earnings call said the company expects the fourth quarter to “mirror more pre-pandemic” holiday.

The company’s attempt to revamp its inventory to get rid of casual and athleisure apparel that have fallen out of fashion and bring in new styles have attracted wealthier shoppers who remain unperturbed by decades-high inflation.

Banana Republic parent Gap Inc has also posted better-than-expected third-quarter results as dressier clothing is back in vogue.

Abercrombie, however, said there was a little bit of softness in demand during late October and maybe into the first week of November.

Last year, more people were shopping earlier due to inventory shortages, which is probably reflecting the slowdown, said M Science senior analyst Matt Jacob.

American Eagle Outfitters, on the other hand, expects a bigger-than-expected fall in fourth-quarter sales, but sees gross margin in the range of 32 percent to 33 percent, at the higher end of its previous forecast, as it benefits from attempts to right size inventory.

Abercrombie expects fourth-quarter net sales to fall about 2 percent to 4 percent in fiscal 2022, compared with analysts’ average estimate of a 6.3 percent drop, according to Refinitiv IBES data.

​Excluding items, it reported a profit of 1 cent per share in the third quarter, compared with estimates of a loss of 16 cents.

© Thomson Reuters 2022 All rights reserved.