Abercrombie & Fitch lifts annual net sales forecast on strong demand

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FILE PHOTO: Abercrombie

(Reuters) – Abercrombie & Fitch Co on Tuesday raised its annual net sales forecast, signaling strong demand for its lifestyle brands heading into the crucial holiday season.

Abercrombie’s trendy logoless basics and jackets piqued the interest of shoppers who were ready to buy the products despite fewer discounts.

The Gilly Hicks parent now expects net sales to rise between 12% and 14% for fiscal 2023, compared with its earlier forecast of about 10% growth.

(Reporting by Juveria Tabassum; Editing by Shweta Agarwal)

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