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Abercrombie & Fitch Forecasts Better Holiday Quarter Sales

Abercrombie & Fitch

Abercrombie & Fitch says that it was “cautiously optimistic” about the holiday season and forecast a smaller-than-expected drop in current-quarter sales following demand that led to a rather shocking quarterly profit.

The iconic fashion apparel retailer’s shares that have lost nearly half of their value this year were up about 19% after the company also reported third-quarter sales above Wall Street estimates, a positive development.

Chief Executive Officer Fran Horowitz in a post-earnings call said the company expects the fourth quarter to “mirror more pre-pandemic” holiday (per Reuters).

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