Abercrombie & Fitch Affirms FY18 Outlook - Quick Facts

(RTTNews) - While reporting its second-quarter financial results today, Abercrombie & Fitch Co. (ANF) provided its financial outlook for fiscal 2018.

The company continues to expect fiscal 2018 comparable sales to increase in a range of 2 percent to 4 percent, and net sales to also increase in the range of 2 percent to 4 percent.

The company projects net sales in the third quarter to be approximately flat to last year, including the adverse effects from the calendar shift and changes in foreign currency exchange rates.

Abercrombie & Fitch said it plans to open 22 full-price stores in fiscal 2018, including 13 Hollister and nine Abercrombie stores. In addition, the company anticipates closing up to 60 stores, primarily in the U.S. during the fiscal year through natural lease expirations.