Not Guilty Plea From Ex-Abercrombie CEO Jeffries - Faces $10M Bond And House Arrest
Mike Jeffries' Legal Issues: Former Abercrombie & Fitch CEO Mike Jeffries has pleaded not guilty to 16 federal charges related to sex trafficking and interstate prostitution, alongside his partner Matthew Smith and another man, Jim Jacobson, who were also arrested in the investigation.
House Arrest and Company Performance: Jeffries will be under house arrest with limited movement allowed, while Abercrombie & Fitch is set to report its third-quarter results, with analysts projecting earnings of $2.36 per share and revenues of $1.18 billion.
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Abercrombie & Fitch's Global Growth Powers Q3 Beat, Outlook Raised For 2024
Earnings Report: Abercrombie & Fitch Co reported a 14% year-over-year sales growth to $1.21 billion, exceeding analyst expectations, with adjusted EPS of $2.50 also beating estimates. The company anticipates fourth-quarter net sales growth of 5% to 7% and has raised its full-year sales outlook to 14%-15%.
Leadership Changes: Robert Ball has been promoted to Chief Financial Officer effective November 20, 2024, while Scott Lipesky continues as COO after serving as CFO since 2017.
Not Guilty Plea From Ex-Abercrombie CEO Jeffries - Faces $10M Bond And House Arrest
Mike Jeffries' Legal Issues: Former Abercrombie & Fitch CEO Mike Jeffries has pleaded not guilty to 16 federal charges related to sex trafficking and interstate prostitution, alongside his partner Matthew Smith and another man, Jim Jacobson, who were also arrested in the investigation.
House Arrest and Company Performance: Jeffries will be under house arrest with limited movement allowed, while Abercrombie & Fitch is set to report its third-quarter results, with analysts projecting earnings of $2.36 per share and revenues of $1.18 billion.
Abercrombie & Fitch's Global Growth Powers Q3 Beat, Outlook Raised For 2024
Earnings Report: Abercrombie & Fitch Co reported a 14% year-over-year sales growth to $1.21 billion, exceeding analyst expectations, with adjusted EPS of $2.50 also beating estimates. The company anticipates fourth-quarter net sales growth of 5% to 7% and has raised its full-year sales outlook to 14%-15%.
Leadership Changes: Robert Ball has been promoted to Chief Financial Officer effective November 20, 2024, while Scott Lipesky continues as COO after serving as CFO since 2017.
Not Guilty Plea From Ex-Abercrombie CEO Jeffries - Faces $10M Bond And House Arrest
Mike Jeffries' Legal Issues: Former Abercrombie & Fitch CEO Mike Jeffries has pleaded not guilty to 16 federal charges related to sex trafficking and interstate prostitution, alongside his partner Matthew Smith and another man, Jim Jacobson, who were also arrested in the investigation.
House Arrest and Company Performance: Jeffries will be under house arrest with limited movement allowed, while Abercrombie & Fitch is set to report its third-quarter results, with analysts projecting earnings of $2.36 per share and revenues of $1.18 billion.
