Abercrombie & Fitch CEO Plans to Expand with Men's Suit Collection After Women's Wedding Attire Success
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%.
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00:00 It's Benzinga and here's what's on the block.
00:02 Abercrombie & Fitch CEO Fran Horwitz wants to capitalize on the success of the company's
00:07 women's wedding attire business by launching a new men's suit collection.
00:10 The company's first quarter same-store sales rose by double digits for both its Abercrombie
00:15 and Hollister brands, beating analyst estimates. Profit margins also expanded significantly.
00:20 Analysts were impressed with Abercrombie & Fitch's ability to sell products at full price
00:24 and control inventory in the current retail environment.
00:27 The company plans to open more stores in the U.S. by the end of the year and ramp up growth
00:31 initiatives in international markets like Germany and the U.K. Shares of Abercrombie & Fitch jumped
00:36 22% on the report. For all things money visit Benzinga.com