Abercrombie & Fitch (ANF) has recorded an impressive turnaround, the retailer capturing the attention of Gen-Z consumers and hitting financial targets earlier than expected. Against a backdrop of inflation and other economic headwinds, consumers are beginning to change their shopping habits, waiting for discounts or trading down to other brands. Can Abercrombie maintain its recent performance as consumer behavior continues to evolve?
Yahoo Finance Executive Editor Brian Sozzi sat down with Abercrombie & Fitch CEO Fran Horowitz to discuss the company's recent gains and business plans in the context of retail uncertainty.
Horowitz contributes the company's success to its close alignment of product and consumer demand, discipline on inventory, and ability to change the addressable market. The CEO also reaffirmed the company's identity as a net store opener: "We have been on this journey of really reconciling our square footage in our stores for many, many years, so it's exciting to be back on the side of growth. We will open in '24, 75 new experiences...The majority of those will still lean towards North America and Abercrombie. But we will be opening up stores around the world."
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance
5 мар 2024
