Abercrombie & Fitch Co. (ANF) has posted strong second-quarter fiscal 2024 results, with sales and earnings surpassing the Zacks Consensus Estimate and showing year-over-year improvement. This marks the sixth consecutive quarter in which Abercrombie has outperformed top and bottom-line estimates.The strong performance was fueled by substantial growth across regions and brands, especially in the Americas and the Abercrombie brand. The company’s earnings were supported by robust revenue growth, and enhanced g ...

The retailer's fiscal Q2 report had good news for investors -- and some bad news, too.A funny thing happened on the way to the Abercrombie & Fitch (ANF -15.18%) earnings report Wednesday morning. (And to be clear, I mean funny strange -- not funny ha-ha).Reporting on its financial performance for its fiscal Q2, which ended Aug. 3, the teen-centric clothier easily met analysts' consensus forecast for $1.1 billion in revenue, and also reported a $2.50 per share profit, well ahead of the $2.22 that Wall Street ...

Abercrombie & Fitch (ANF) reported $1.13 billion in revenue for the quarter ended July 2024, representing a year-over-year increase of 21.2%. EPS of $2.50 for the same period compares to $1.10 a year ago.The reported revenue represents a surprise of +4.06% over the Zacks Consensus Estimate of $1.09 billion. With the consensus EPS estimate being $2.14, the EPS surprise was +16.82%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

Financial Data and Key Metrics Changes - The company reported record net sales of $1.1 billion for Q2 2024, representing a 21% increase compared to the previous year, with an operating margin of 15.5% [6][18] - Operating income reached $176 million, nearly double the $90 million reported in Q2 2023, with net income per diluted share increasing to $2.50 from $1.10 [22][23] - Gross profit margin improved to 64.9%, up 240 basis points from 62.5% in the prior year, driven by lower cotton costs and improved product acceptance [21][22] Business Line Data and Key Metrics Changes - Abercrombie brands achieved a net sales growth of 26%, maintaining the same growth rate as Q2 2023, with strong performance in seasonal categories [12][20] - Hollister brands saw a 17% increase in net sales, up from 12% growth in Q1, with balanced growth across men's and women's categories [14][20] Market Data and Key Metrics Changes - The Americas region led with a 23% increase in net sales, consistent with Q1, while EMEA grew by 16% and APAC by 3% [10][19] - In EMEA, the UK and Germany showed significant growth, marking the first time in over a decade that the region demonstrated growth on growth [11][20] Company Strategy and Development Direction - The company is focused on sustainable profitable growth, raising full-year sales growth expectations to 12% - 13% from a previous estimate of around 10% [27][28] - Investments are being made in marketing, digital, technology, and infrastructure to support long-term growth, with a strong emphasis on customer engagement and brand localization [17][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a dynamic consumer environment, highlighting the strength of the brand portfolio and the effectiveness of their operational playbook [8][17] - The outlook for Q3 includes expectations for low double-digit sales growth, with operating margins projected between 13% and 14% [26][28] Other Important Information - The company ended the quarter with cash and equivalents of $738 million and liquidity of approximately $1.2 billion, having fully redeemed senior secured notes [23][24] - The company plans to prioritize share repurchases in the back half of the year, subject to business performance and market conditions [24] Q&A Session Summary Question: Insights on back-to-school selling season and AUR growth - Management noted strong AUR growth across both brands, driven by product acceptance and inventory control [31][32] Question: Clarification on operating margin guidance for Q3 - Management indicated that the guidance reflects a balance of freight costs and ongoing investments in marketing and infrastructure [33][34] Question: Growth vectors for Abercrombie brand - Management highlighted the success of the Wedding Shop and NFL partnership as key growth drivers, with a focus on customer insights [36][38] Question: Digital channel performance - The digital channel has shown double-digit comp growth, supported by investments in customer experience [40] Question: Sales progression throughout the quarter - Sales showed double-digit growth each month in Q2, with positive momentum continuing into Q3 [51][52] Question: Clearance inventory levels and promotional cadence - Clearance levels are lower than in the past, with a focus on maintaining lean inventory and adjusting promotions based on business performance [70][75] Question: Freight costs outlook - Freight costs are expected to remain elevated, impacting gross margins, with management monitoring the situation closely [66][71]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Abercrombie & Fitch (ANF) came out with quarterly earnings of $2.50 per share, beating the Zacks Consensus Estimate of $2.14 per share. This compares to earnings of $1.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.82%. A quarter ago, it was expected that this teen clothing retailer would post earnings of $1.66 per share when it actually produced earnings of $2.14, delivering a surprise of 28.92%.Over the last four quar ...

bercrombi bercrombie Fitch Abercrombie & Fitch Co. INVESTOR PRESENTATION: SECOND QUARTER 2024 | --- | |-----------------------------------| | TABLE OF CONTENTS | | Safe Harbor and Other Information | | Company Overview | | Q2 2024 Results | | Appendix | | | SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This presentation contains forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements, including, without ...

An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21.Abercrombie & Fitch's revenue grew 21% during its fiscal second quarter as the apparel company builds on its torrid growth. The sales gain, which follows 16% growth in the year-ago period, led the company to issue bullish guidance for the current quarter. Still, its full-year outlook was largely in line with estimates as it prepares for one fewer week this y ...

Record second quarter net sales of $1.1 billion, up 21% from last year with comparable sales growth of 18%Broad-based net sales growth across regions and brands, with Abercrombie brands growth of 26% and Hollister brands accelerating to growth of 17%Operating margin expands 590 basis points to 15.5%, with record second quarter operating income of $176 millionFurther strengthened balance sheet with redemption of all its outstanding 8.75% senior secured notes and amendment and extension of ABL Facility result ...

LONDON,ENGLAND - June 2023: Abercrombie & Fitch store sign External Store Sign London, England. ... [+] (Photo by Peter Dazeley/Getty Images)Getty ImagesAbercrombie & Fitch (NYSE: ANF), a specialty retailer selling casual clothing and footwear, is scheduled to report its fiscal Q2 2024 results on Wednesday, August 28. (ANF’s FY’23 ended on February 3, 2024) We expect ANF stock to likely see little to no movement post-Q2 results with revenue beating but earnings missing expectations marginally in fiscal Q2. ...