Hyunsoo Rim is an editorial fellow at Forbes, covering breaking news with a focus on business and finance. She graduated from New York University with a master’s degree in journalism, specializing in business and economic reporting.
Abercrombie & Fitch, the iconic fashion brand that dominated the Y2K era, reported record-breaking first-quarter earnings Wednesday, signaling a successful turnaround as young millennials turned back to the nostalgic brand’s inclusive revamp—with shares growing over four-fold, outpacing Nvidia over the past year.a 22% annual increase in first-quarter sales topping $1 billion—the “highest first-quarter net sales in company history”—following last year’s 16% revenue growth.
The company increased its full-year outlook on net sales growth to around 10%, up from the previous forecast of 4-6%.millennials aged 23 to 40-plus—posted a 31% increase, while Hollister brands—catering to 13- to 21-year-old Gen Zs—saw a 12% rise.in the 2010s due to its controversial and exclusive marketing tactics, including sexualized advertising and refusing to make XL or XXL sizes.
Under the leadership of CEO Fran Horowitz since 2017, the company has reinvented itself by focusing on inclusivity, broadening its product range and revamping the brand image targeting young professionals who grew up wearing the nostalgic brand. The company’s inclusive strategy includes offering denim in a range of styles and sizes—such as 90s low-rise baggy jeans, ultra high-rise straight jeans and the Curve Love line which went viral on TikTok—shifting away from its previous image of fitting only slim customers.
Abercrombie Gap Abercrombie Earnings Nvidia Anne Hathaway Gap Zac Posen Richard Dickson Fran Horowitz
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