As spring and summer approach, the fashion industry is primed to leverage consumers' shift to seasonal wardrobe changes. Leading fashion companies Abercrombie & Fitch Co. (ANF) and Ross Stores, Inc. (ROST) recently announced robust quarterly results and also exceeded the EPS and revenue Wall Street expectations. So, these two stocks could be solid buys.
The companies’ solid performance can be attributed to low costs and a jump in retail sales due to the holiday season. Recent data from the U.S. Census Bureau reveals that core retail sales during the 2023 holiday season surged by 3.8% compared to 2022, reaching a record $964.4 billion. Additionally, sales for the entire year increased by 3.6% over 2022, reaching a new high of $5.13 trillion.
