Abercrombie & Fitch Co. Provides Earnings Guidance for the First Quarter and Fiscal Year 2023
For the year, the company expected net sales growth in the range of 1% to 3% from $3.7 billion in 2022 with the expectation that Abercrombie will continue to outperform Hollister and the U.S. will continue to outperform International. The company expected growth to be weighted to the second half of the year, driven primarily by the inclusion of a 53rd week for reporting purposes, along with net store expansion. The 53rd week is estimated To add approximately $45 million to total net sales in 2023.