Abercrombie & Fitch Co. provided a business update on January 13, 2025, increasing its net sales outlook for the fourth quarter and full fiscal year 2024. The company reported record quarter-to-date net sales through fiscal December, exceeding its previous expectations. This strong performance was supported by comparable sales growth across all regions and brands during the holiday selling period.
CEO Fran Horowitz stated that the team "remained on offense" and customers responded positively to compelling product assortments and engaging marketing. The company now expects to complete fiscal year 2024 with net sales growth around 15% and a strong operating margin around 15%. This outlook represents a significant outperformance of the "Always Forward Plan 2025" financial targets set in June 2022.
The company anticipates delivering sustainable, profitable growth building on its 2024 performance. Management's goal for 2025 is to continue this growth by executing its playbooks to win and retain customers globally, aiming to grow operating income dollars and earnings per share at rates faster than sales to drive long-term shareholder value.
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