Abercrombie & Fitch CEO Plans to Expand with Men's Suit Collection After Women's Wedding Attire Success from stores in frederick mall Watch Video
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⏲ Duration: 0:41 👁 View: 305K times ✓ Published: 31-May-2024
Description: Abercrombie & Fitch CEO Fran Horowitz wants to capitalize on the success of the company's women's wedding attire business by launching a new men's suit collection. The company's first quarter same-store sales rose by double digits for both its Abercrombie & Fitch and Hollister brands, beating analyst estimates. Profit margins also expanded significantly. Analysts were impressed with Abercrombie & Fitch's ability to sell products at full price and control inventory in the current retail environment. The company plans to open more stores in the US by the end of the year and ramp up growth initiatives in international markets like Germany and the UK. Shares of Abercrombie & Fitch jumped 22%.