Abercrombie & Fitch Brand Has More Resilient Customer Base Than Peers: Analyst
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Abercrombie & Fitch Co (NYSE:ANF) with a price target of $35. ANF reported better-than-expected 1Q23 results, with a 2.9% increase in total sales and a gross margin expansion driven by lower freight costs and AUR growth. The company also raised its annual outlook and has a more resilient customer base than its peers.
May 24, 2023 | 6:17 pm
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Abercrombie & Fitch Co (NYSE:ANF) reported better-than-expected 1Q23 results, with a 2.9% increase in total sales and a gross margin expansion driven by lower freight costs and AUR growth. The company also raised its annual outlook.
Abercrombie & Fitch Co reported better-than-expected 1Q23 results, with a 2.9% increase in total sales and a gross margin expansion driven by lower freight costs and AUR growth. This positive news, along with the company raising its annual outlook and having a more resilient customer base than its peers, is likely to have a positive short-term impact on the stock price. The Outperform rating and $35 price target from Telsey Advisory Group further support this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100