Abercrombie & Fitch has increased its outlook for the fourth quarter and FY24 after achieving better-than-expected holiday sales.

The company now expects fourth-quarter net sales to increase 7-8 per cent compared to the prior 5-7 per cent. Full-year sales growth is forecast to be around 15 per cent, up from the prior 14-15 per cent range.

“Through fiscal December, we delivered record quarter-to-date net sales, exceeding the expectations we provided in November,” said CEO Fran Horowitz.

“Total net sales growth was supported by comparable sales across regions and brands through the holiday selling period,” he added.

With the updated outlook, the company foresees significant outperformance of the Always Forward Plan 2025 financial targets provided in June 2022 and expects to deliver sustainable, profitable growth off of the 2024 levels. 

“Following an expected two years of double-digit top and bottom-line growth, I am as confident as ever in the power of our brands and operating model as we move forward, supported by the outstanding capabilities we’ve built,” said Horowitz.