Lululemon, Abercrombie lift holiday quarter targets on robust demand By Reuters

From Investing.com:

Lululemon and Abercrombie & Fitch raised their holiday forecasts, indicating strong demand during the sales period. Struggling to maintain margins, retailers competed with discounts, but limited inventory overhang allowed Lululemon and Abercrombie to sell more products at full price. Lululemon now expects fourth-quarter revenue of $3.17 billion to $3.19 billion, and profit per share of $4.96 to $5.00. Abercrombie forecasts fourth-quarter net sales to rise in the high teens percentage range. Shares of Crocs climbed 7% and American Eagle Outfitters jumped 13% after both raised their holiday-quarter revenue forecasts. Crocs struggled with inventory destocking last year but saw a rise in sales this year.



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