Iran War Hurts Abercrombie Sales in EMEA
Iran Conflict Dents Abercrombie's EMEA Sales
Abercrombie & Fitch reported a 10% decline in sales across Europe, the Middle East, and Africa (EMEA) in the latest quarter, totaling $167.4 million. CEO Fran Horowitz attributed the drop to escalating regional conflicts, which offset growth in the UK and other markets.
Strategic Adjustments
Horowitz noted that the team has taken action by controlling receipts and adjusting promotions to align with the trend. Despite the EMEA setback, the company's overall net sales rose 1.5% to $1.11 billion, driven by growth in the Americas and Asia-Pacific regions.
Market Response
Shares of Abercrombie climbed 10% following the announcement, reflecting investor confidence in the company's global diversification and resilience against regional risks.
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