Abercrombie & Fitch Posts Strong Q2 Sales, Adjusts 2024 Forecast

Despite a 21% sales increase, investor concerns over future growth led to a notable stock drop.

Abercrombie & Fitch reported a 21% increase in second-quarter sales, reaching $1.1 billion.
Net income rose to $250.5 million, marking a significant jump from the previous year.
The company raised its 2024 sales growth outlook to 12-13%, up from the previous 10%.
Despite strong earnings, the stock fell 15% due to concerns about future growth comparisons.
Abercrombie's partnership with Haddad Brands aims to expand its kids' apparel line globally.