Sandra Leggero has a background in financial markets, having spent more than 9 years in commodities trading for several European and Asian companies. She holds a degree in Economics from the University of Pavia and specializes in emerging markets.
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Key Moments
Abercrombie & Fitch reduced its full-year net sales growth outlook to at least 6%
The prior forecast had called for net sales growth between 6% and 7%
The guidance revision coincided with a 16% drop in the stock in premarket trading
Forecast Revision Pressures Share Price
Abercrombie & Fitch (A&F) saw its stock decline sharply in premarket trading after the retailer revised its expectations for the current year’s performance. On Monday, the company lowered its annual net sales growth forecast, triggering a 16% drop in its shares before the market open.
The company now anticipates full-year net sales growth of at least 6%. This compares with its earlier projection, which had called for an increase in net sales in the range of 6% to 7%.
Metric
Previous Outlook
Revised Outlook
Full-year net sales growth
Between 6% and 7%
At least 6%
Share price reaction (premarket)
Not specified
-16%
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