Abercrombie: confirms Q4 outlook
(CercleFinance.com) - Abercrombie & Fitch remains on track to deliver low-single digit comparable sales growth for the fourth quarter, the US teen apparel retailer said on Monday.
The company also said that it expects that its gross margin either flat or up slightly from last year's 58.4%.
"We were pleased with our performance in the competitive holiday season," said chief executive officer Fran Horowitz.
However, driven by the loss of 2017's 53rd week and adverse impacts from foreign currency exchange rates, net sales are expected to decrease mid-single digits, Abercrombie said.
Its shares are down over 4% in pre-market trading after this news.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company also said that it expects that its gross margin either flat or up slightly from last year's 58.4%.
"We were pleased with our performance in the competitive holiday season," said chief executive officer Fran Horowitz.
However, driven by the loss of 2017's 53rd week and adverse impacts from foreign currency exchange rates, net sales are expected to decrease mid-single digits, Abercrombie said.
Its shares are down over 4% in pre-market trading after this news.
Copyright (c) 2019 CercleFinance.com. All rights reserved.