Finally, Abercrombie & Fitch announces its turnaround.

Quick Summary:

S&P Global Ratings on Tuesday upgraded the apparel retailer, not just on its better-than-expected 2023 performance but also its strong momentum.

Abercrombie & Fitch Co, which runs Hollister and its namesake brand, had a rough time moving on from its Mike Jeffries era, when it leaned on highly sexualized marketing and heavily perfumed, darkly lit stores.

For the year, the company reported 16% year-over-year net sales growth, reaching $4.3 billion, as comps rose 13% and gross margin expanded by 600 basis points to 62.9%.

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Article Details

Author / Journalist: Daphne Howland

Category: Business

Markets: United States

Topics: Company Abercrombie Growth Operating Sales Fitch Retailer Analysts Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-24 @ 11:59:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 728 words

Reading Time: 5 minutes read

Sentences: 18 lines

Sentence Length: 41 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 20780677

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