(Reuters) -Abercrombie & Fitch ( ANF ) lifted its annual sales forecast on Tuesday, betting on strong demand at its namesake label and its teen-focused Hollister brand.

The company also named insider Robert Ball as chief financial officer. Its shares were down about 4% in premarket trading.

Abercrombie has doubled down on refreshing its product lines across denims, dresses and seasonal offerings as consumers remain picky and earmark their dollars for smaller luxuries such as jeans and in-vogue handbags.

Retailers, especially apparel sellers, have forecast a mixed holiday season this year ahead of Black Friday and Christmas, as consumers hold back on big purchases and wait for the best prices and deals.

The company now expects fiscal 2024 net sales to rise between 14% and 15%, compared with its prior forecast of 12% to 13% growth.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Devika Syamnath)