Abercrombie & Fitch news and archive

Abercrombie ‘disgusted’ by former CEO arrested on sex trafficking charges

Abercrombie & Fitch has spoken up following the arrest of Mike Jeffries, stating that the company was “appalled and disgusted by the alleged behaviour” of its former chief executive officer. Jeffries was arrested Tuesday on federal sex trafficking and interstate prostitution charges alongside his partner Matthew Smith and another associate....

People

Ex-Abercrombie CEO to face sex assault charges: media

The former chief executive of the Abercrombie and Fitch clothing empire will face charges of sexually assaulting and trafficking male models at events around the world, media reported Tuesday. Ex-CEO Mike Jeffries, his partner Matthew Smith and the pair's alleged go-between were arrested by authorities early Tuesday, the BBC reported....

Business

Marcolin and Abercrombie & Fitch secure eyewear licensing agreement

Eyewear group Marcolin has established an exclusive licensing agreement with apparel brand Abercrombie & Fitch Co. which will see it take over the design, production and distribution of eyewear collections for the Abercrombie, Abercrombie Kids and Hollister brands. Speaking on the partnership, Abercrombie & Fitch Co. CEO, Fran Horowitz, said: “...

Business

Abercrombie & Fitch reportedly mulling return to Hong Kong after eight years

Eight years after shutting up shop in the region, Abercrombie & Fitch is believed to be mulling its return to Hong Kong. It is understood that the apparel retailer has its eyes on renting two large stores in the area, according to unnamed sources for Bloomberg. While one is reportedly located in Causeway Bay shopping mall Hysan Place, and is...

Business

Abercrombie & Fitch, Kohl's Q2 results top estimates

U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl's Corp. (KSS) reported on Wednesday results for the second quarter that topped analysts' estimates, with Abercrombie & Fitch raising its outlook for the full-year 2024, while Kohl's slashed its adjusted earnings and sales growth guidance for fiscal 2024. Following the results, Abercrombie &...

People

Abercrombie & Fitch names Andrew Clarke as new board member

US apparel retailer Abercrombie & Fitch has announced the appointment of Andrew Clarke to its board of directors, a move that comes as the company embarks on its next phase of growth. Clarke currently serves as the global president of Mars Snacking, a division of the chocolate industry giant Mars, Incorporated, where he has been for the last 24...

Business

Abercrombie Kids expands into wholesale with Haddad Brands deal

Abercrombie Kids, the childrenswear brand of Abercrombie & Fitch Co., is set to enter the wholesale market via a new deal with privately-held licensing firm Haddad Brands. The aim of the partnership is to expand the global reach of the Abercrombie Kids brand through a long-term growth plan that will be driven by Haddad Brands itself. As such,...

BusinessFeatured

On a comeback: Abercrombie & Fitch stock outperforms Nvidia

Once a brand in decline, Abercrombie & Fitch, the iconic 1990s brand known for its preppy style, has made an unexpected comeback in the retail world, giving it the status of an unlikely market leader once again. The news was so significant that the Wall Street Journal dedicated an entire report to it: “Why Abercrombie & Fitch’s Stock Has...

Business

Abercrombie & Fitch posts strong Q1 growth, raises outlook

First quarter net sales at Abercrombie & Fitch of 1 billion dollars, were up 22 percent on a reported basis and constant currency basis with comparable sales up 21 percent. Gross profit rate of 66.4 percent, rose approximately 540 basis points, operating income increased to 130 million dollars and net income per diluted share rose to 2.14...

Abercrombie & Fitch Q4 comparable sales increase 16 percent

Abercrombie & Fitch’s net sales for the fourth quarter of 1.5 billion dollars were up 21 percent on a reported and constant currency basis with comparable sales up 16 percent. Full year net sales of 4.3 billion dollars were up 16 percent on a reported basis and on a constant currency basis, while comparable sales increased 13 percent. Commenting...

Business

Abercrombie & Fitch raises Q4 and full year sales outlook

Abercrombie & Fitch has increased its net sales and operating margin outlook for the fourth quarter and full year of fiscal 2023. The company now expects fourth quarter net sales to be up high-teens against previous outlook of low-single digits growth, operating margin to be around 15 percent compared to earlier estimate of in the range of 12 to...

Retail

Abercrombie & Fitch to open on Carnaby Street in London

US clothing and lifestyle retailer Abercrombie & Fitch has confirmed it's opening a new store on London’s Carnaby Street before Christmas. Located at 39 Carnaby Street, the store formerly housed Abercrombie & Fitch group-owned intimates and activewear retailer Gilly Hicks and will open to the public on December 15. The store will offer the brand...