Abercrombie & Fitch has become Wall Street's biggest retail winners and the company plans to keep up the growth by expanding into international markets.
Abercrombie & Fitch handily beat Wall Street's expectations as the apparel company posted another quarter of torrid growth.
CEO Fran Horowitz – who often says good companies win in any economic environment – may be bracing for a turbulent second half of the year because for the first time in four quarters, she referenced the uncertain state of the economy in the company's earnings release. For the current quarter, Abercrombie expects sales to rise by a low double digit percentage, better than the 8.9% growth that LSEG analysts had expected.
During the quarter, sales at Hollister jumped 17% while comparable sales rose 15%. In the company's Europe, Middle East and Africa division, sales climbed 16%.
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