(Reuters) -Abercrombie & Fitch Co on Wednesday beat analysts’ estimates for fourth-quarter revenue on strong demand for its apparel brands in the critical holiday shopping season.
Apparel retailers such as Abercrombie and Lululemon Athletica have reaped benefits from their efforts to clean out inventories and introduce fresh styles on the racks during the holiday shopping season.
This has also encouraged full-price sales for apparel brands over the holiday period, which is typically skewed towards higher discounts and promotions.
In the fourth quarter ended Feb. 3, the Ohio-based company’s revenue rose 21% to $1.45 billion, compared with LSEG expectations of 19% growth to $1.43 billion.
(Reporting by Juveria Tabassum; Editing by Shailesh Kuber and Shinjini Ganguli)
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