(Boursier.com) — Abercrombie & Fitch progressed before market on Wall Street, while the group raised its annual sales forecasts with resilient demand. Revenue for the 2024 financial year is now expected to increase by 10%, compared to previous guidance ranging from 4 to 6%. For the quarter ended at the beginning of May, the group posted revenues of $1.02 billion (+22.1%), compared to a market consensus of $963 million. Adjusted earnings per share soared to $2.14, compared to 39 cents a year earlier and $1.72 market consensus. Free cash flow became positive at $56 million. Like-for-like quarterly growth was 21%.
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