Abercrombie & Fitch ups guidance after ‘outstanding’ quarter
Abercrombie & Fitch has reported a surge in profits and sales during its first quarter and upped its guidance for the full year off the back of this success.
The US fashion and lifestyle retailer posted a 22% increase in net sales to reach $1bn (£790m) for the first quarter to May 4, 2024, marking the highest first quarterly sales in the retailer’s history.
Sales for the Abercrombie & Fitch and Hollister brands were up 31% and 12% year on year respectively.
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