Former Abercrombie & Fitch CEO Mike Jeffries is facing allegations of sexual exploitation from several men, who claim they were abused and drugged during modelling events. The allegations include claims of forced kissing, unwanted sexual advances, and verbal abuse. The BBC investigation, which started in 2022, has now grown to include 20 men, with the FBI also launching an investigation.
Abercrombie & Fitch (ANF) stock has seen a recent surge, and Wall Street analysts are predicting further gains. While analysts’ price targets can be misleading, a high degree of agreement among them regarding ANF’s earnings prospects suggests a potential upside for the stock.
Abercrombie & Fitch exceeded analyst expectations for its second quarter, reporting a 21% year-over-year sales increase and a strong adjusted EPS. The company also raised its full-year sales and operating margin forecasts, citing continued execution of its global strategy and disciplined inventory management. However, shares dipped despite the positive results, likely due to concerns about the uncertain economic environment.
Nike shares are experiencing a decline on Wednesday, potentially due to the underwhelming earnings reports from Foot Locker and Abercrombie & Fitch. Both companies reported mixed results, leading to pressure on the broader apparel and athletic wear sector, including Under Armour.
Abercrombie & Fitch (ANF) reported strong second-quarter earnings, exceeding analyst expectations for both sales and earnings per share. The company raised its full-year sales and operating margin outlook, but shares are trading lower premarket despite the positive news.
