Abercrombie & Fitch Says Remains On Track To Deliver Low-single Digit Comp In Q4
(RTTNews.com) - Abercrombie & Fitch Co. ( ANF ) said that it remains on track to deliver a low-single digit comp for the fourth quarter, representing its sixth consecutive quarter of positive comparable sales.
For the full year, the company remains on track to deliver top-line growth including over $1 billion in digital sales, gross profit rate expansion and operating expense leverage.
The company reaffirmed its previously issued outlook for the fourth quarter of fiscal 2018 as follows: Comparable sales to be up low-single digits on top of 9% last year; net sales to decrease mid-single digits, hurt by the loss of fiscal 2017's 53rd week and adverse impacts from both the calendar shift and changes in foreign currency exchange rates; A gross profit rate flat to up slightly from last year's rate of 58.4%.
The company plans to release its fiscal 2018 fourth quarter and full year results on March 6, 2019.
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