Abercrombie & Fitch raises outlook as brand positioning pays off
Abercrombie & Fitch has raised its outlook for the full financial year as it recorded a surge in sales during the second quarter, which it credits to the success of the “positioning and assortment” of its brand portfolio.
The US and fashion and lifestyle retailer posted a 16% increase in net sales year on year to $935m (£739.9m) for the three months to July 29, 2023.
Sales for the Abercrombie brand were up 26% year on year to $462.7m (£366.2m), while sales at Hollister were up 8% at $472.6m (£374m).
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