Abercrombie & Fitch CEO on consumer trends, return to office
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Abercrombie & Fitch CEO on consumer trends, return to office
Abercrombie & Fitch CEO on consumer trends, return to office
Abercrombie & Fitch CEO Fran Horowitz sits down with Yahoo Finance's Brian Sozzi to discuss Abercrombie & Fitch's 2023 outlook, consumer trends, and opening stores.
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Abercrombie & Fitch CEO on consumer trends, return to office
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Abercrombie & Fitch CEO Fran Horowitz sits down with Yahoo Finance's Brian Sozzi to discuss Abercrombie & Fitch's 2023 outlook, consumer trends, and opening stores.
Video Transcript
- Another big winner, Abercrombie & Fitch shares surging today, to the upside on today's trading session after reporting a surprise beat on earnings and raising its outlook. Our very own Brian Sozzi had the chance to speak with Abercrombie and Fitch CEO, Fran Horowitz, to dig deeper into these results. Let's listen.
FRAN HOROWITS: Yes, super exciting day here on campus, Brian/ it's great to see all of the smiling faces and all the energy that we have going here. Abercrombie particularly, up 14%, which was growth on top of last year's 13%. There's so many exciting things happening in that brand, I'm trying to figure out where should we even start.
BRIAN SOZZI: Go with cargo pants.
FRAN HOROWITS: Start with cargo pants? OK. Cargo pants are important. But what's really exciting about Abercrombie is that we've really changed the brand from what people used to reference as a t-shirt and jeans brand to a lifestyle brand. And the consumer is coming to us for so many more categories today, which is really what's driving the momentum in our business.
You know, the turn started a couple of years ago with the women's business, where we got that going first. Now our men's business is also very good. Our third consecutive quarter of growth for men's, 11th consecutive double digits for women's. But we can talk about all sorts of categories.
Dresses, dresses, dresses, all day long. She's coming to us for all sorts of occasion dressing. The men-- guys and girls are both coming to us for pants, that's a fun conversation because that's kind of a new trend to this consumer. Now that they're back at the office and they're trying to figure out what to wear to work, they're coming to us for that as well. So lots of exciting things happening.
BRIAN SOZZI: Fran, you must have read my notes. And as you know, we've known each other for a while, I'm an avid earnings call listener geek. I love earnings calls. And to that point, I love what you mentioned on the call about people going back to the office. And is Abercrombie & Fitch, that brand, is that the new wardrobe? And, I mean, what are people wearing to the office again?
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