Biker Boots and Curtains of Rain at Hermes Runway Show in Paris

Models present creations by Hermes for the Women Ready-to-wear Fall-Winter 2024/2025 collection as part of the Paris Fashion Week, in Paris on March 2, 2024. (Photo by JULIEN DE ROSA / AFP)
Models present creations by Hermes for the Women Ready-to-wear Fall-Winter 2024/2025 collection as part of the Paris Fashion Week, in Paris on March 2, 2024. (Photo by JULIEN DE ROSA / AFP)
TT

Biker Boots and Curtains of Rain at Hermes Runway Show in Paris

Models present creations by Hermes for the Women Ready-to-wear Fall-Winter 2024/2025 collection as part of the Paris Fashion Week, in Paris on March 2, 2024. (Photo by JULIEN DE ROSA / AFP)
Models present creations by Hermes for the Women Ready-to-wear Fall-Winter 2024/2025 collection as part of the Paris Fashion Week, in Paris on March 2, 2024. (Photo by JULIEN DE ROSA / AFP)

Hermes designer Nadege Vanhee added country and western flair to her fall/winter collection, sending biker boots and studded leather jackets down a catwalk lined with curtains of rain.
Models marched past the falling droplets parading the sleek lineup of leather ensembles that included flat, high-waisted trousers, flared in a boot-cut and worn with sharp-toed ankle boots - cowboy style.
Slit pencil skirts paired with trim bomber jackets looked youthful while cinched trench coats carried a more traditional flavor.
Show notes referred to "braving the elements", and cited resilient leathers, robust twills and supple cashmere.
For her bow, Vanhee lifted her arms and wiggled to the thumping soundtrack - Romeo Void's "Never Say Never" - as audience applauded.
Paris Fashion Week runs through March 5, featuring runway shows from some of the industry's biggest names, including LVMH's Louis Vuitton and Dior, Kering labels Saint Laurent and Balenciaga, and Chanel.



Abercrombie & Fitch Lifts Sales Forecast on Trendy Apparel Demand; Lofty Expectations Hit Shares

A hiring sign is displayed in front of Abercrombie & Fitch at the Tysons Corner Center mall on August 22, 2024 in Tysons, Virginia. (Getty Images via AFP)
A hiring sign is displayed in front of Abercrombie & Fitch at the Tysons Corner Center mall on August 22, 2024 in Tysons, Virginia. (Getty Images via AFP)
TT

Abercrombie & Fitch Lifts Sales Forecast on Trendy Apparel Demand; Lofty Expectations Hit Shares

A hiring sign is displayed in front of Abercrombie & Fitch at the Tysons Corner Center mall on August 22, 2024 in Tysons, Virginia. (Getty Images via AFP)
A hiring sign is displayed in front of Abercrombie & Fitch at the Tysons Corner Center mall on August 22, 2024 in Tysons, Virginia. (Getty Images via AFP)

Abercrombie & Fitch raised its annual sales target on Wednesday after reporting better-than-expected quarterly revenue, but shares of the company fell 14% as investors expected a bigger forecast bump from the high-flying retailer.

The stock has surged about 89% so far this year after nearly quadrupling in 2023.

"While the market may have been looking for a stronger guidance lift for the year, given momentum across the business, we see a beat and raise as impressive given a moderating top line outlook in response to a choppy macro environment across many of Abercrombie's specialty retail peers," said Dana Telsey, analyst at Telsey Advisory Group.

Abercrombie has been revamping its merchandise with new styles, featuring dressier apparel and cargo pants while tapping into growing demand for wide-legged jeans, helping it draw in fashion-savvy shoppers.

Retailers ranging from department store chains Macy's to home improvement chain Home Depot struck a cautious note and trimmed their annual sales forecasts, blaming weak discretionary demand. Strong results from Target and Walmart showed shoppers were looking for bargains amid budget constraints.

Sales at the Abercrombie brand jumped 26% in the quarter ended Aug. 3, while its Hollister division reported a 17% rise due to better-than-expected back-to-school selling.

The company now expects net sales to rise between 12% and 13% in fiscal 2024, compared with its prior forecast of around 10% growth.

Abercrombie CEO Fran Horowitz said the forecast raise came despite "an increasingly uncertain environment".

The company saw benefits from lower promotions and lower cotton costs, which helped it improve its gross profit rate by 240 basis points to 64.9%. However, it expects pressure from freight costs in the back half of the year.

In the second quarter, it reported profit of $2.50 per share, beating an estimate of $2.22, according to LSEG data.

Net sales rose 21% to $1.13 billion in the second quarter, compared with analysts' estimate of $1.10 billion.