Abercrombie & Fitch Co. (ANF) said it now expects net sales fourth quarter 2020 to decline in the 5% to 7% range compared to plan of down 5% to down 10%, reflecting ongoing digital momentum offset by store closures and capacity restrictions in North America and EMEA.
Operating expense, excluding other operating income, to be down at least 2% from fiscal 2019 adjusted non-GAAP operating expense of $566 million, reflecting savings in store expenses due to closures and the recognition of rent abatements. It compared to plan of up 1% to 2%.
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