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This Retailer’s stock beat Nvidia in 2023. What to Expect Now?

Abercrombie shares jumped a whopping 285% in 2023, boosting the stock’s price to levels even higher than during the retailer’s heyday in the mid-2000s.

The stock notch yearly percentage increase on record also outstripped the top five performers in the S&P 500, including Nvidia and Meta.

The stock’s performance was a welcome change from 2022, which saw shares shed 34% as the company worked through supply-chain issues.

Multiyear efforts spanning marketing, product, and in-store presentation have yielded distinctive brands that strongly resonate with their particular audiences.

Tarlowe has a buy rating on the stock, and following Abercrombie’s third-quarter results, he raised his price target for the shares to $85 from $80.

There’s only one thing that was hotter than Abercrombie & Fitch jeans in 2023: the retailer’s stock.

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