January 22, 2018 / 1:43 PM / 4 months ago

Abercrombie & Fitch raises Q4 outlook; exec chairman to step down

Jan 22 (Reuters) - Abercrombie & Fitch raised its fourth-quarter forecast following a strong holiday season, sending its shares up 4.6 percent before the bell on Monday.

The teen apparel retailer raised its comparable sales growth outlook for the holiday quarter to the high-single digit percentage range, compared with a prior outlook of up low-single digits.

The company also said that Arthur Martinez will step down as executive chairman of its board on Feb. 3 and will be replaced by Terry Burman, who will then assume the role of non-executive chairman. (Reporting by Sangameswaran S in Bengaluru; Editing by Supriya Kurane)

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