Abercrombie & Fitch Co. ANF, -2.12% raised its outlook for fiscal fourth-quarter sales, citing better-than-expected holiday sales. The apparel and accessories retailer now expects sales for the quarter through January to rise in the “high-teens” percentage range from a year ago, compared with previous guidance of “low double-digits” growth. The current FactSet sales consensus of $1.367 billion implies a 13.8% rise. The company raised its guidance range for full-year sales growth to 14% to 15% from 12% to 1 ...

This Retailer’s Stock Beat Nvidia in 2023. What to Expect Now. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 28, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12107 Abercrombie & Fitch Co. (Exact name of Registrant as specified in its charter) Delaware 31-1469076 (St ...

Financial Data and Key Metrics Changes - For Q3 2023, net sales increased by 20% year-over-year, reaching $1.056 billion, with a comparable sales growth of 16% [15][21] - The operating margin improved to 13.1%, an increase of over 1,100 basis points compared to Q3 2022, driven by a gross profit rate expansion of 570 basis points [5][19] - Year-to-date net sales were up 13% compared to the previous year, with an operating margin of 9.3%, which is over 900 basis points better than 2022 [5][21] Business Line Data and Key Metrics Changes - Abercrombie brands achieved a 30% sales increase year-over-year, marking the 11th consecutive quarter of growth, while Hollister brands grew by 11% [8][16] - Hollister's women's business led the growth, particularly in non-denim bottoms, while Abercrombie's growth was balanced across genders and regions [6][9] Market Data and Key Metrics Changes - The Americas region saw a 16% growth in comparable sales, EMEA grew by 15%, and APAC experienced a significant 32% growth [11][16] - Localization efforts in EMEA and APAC contributed positively to sales performance, particularly in the U.K. and Germany [12][16] Company Strategy and Development Direction - The company is focused on maintaining momentum into Q4 2023, with strategic positioning across brands and regions to capitalize on holiday sales [5][13] - Increased marketing investments are planned for Q4 to enhance customer acquisition and retention, despite a challenging macro environment [13][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver growth across brands and regions, emphasizing the importance of customer focus and execution of their playbook [13][21] - The company anticipates a low double-digit sales growth for Q4 2023, with expectations for an operating margin between 12% to 14% [21][22] Other Important Information - The company ended Q3 with cash of $649 million and liquidity of approximately $1 billion, indicating a strong balance sheet [19][20] - Inventory levels are significantly improved compared to last year, allowing for strategic promotional opportunities during the holiday season [6][18] Q&A Session Summary Question: What were the key drivers behind the growth in Hollister and how do you plan for promotions in Q4? - Management noted that women's categories, particularly non-denim bottoms, drove growth, and they are prepared for a competitive promotional environment in Q4 based on internal selling data [25][27] Question: What surprised you about Abercrombie's growth this quarter? - Management highlighted balanced growth across brands, genders, and regions, attributing success to a well-executed playbook and strong customer engagement [32][33] Question: How sustainable is the gross margin seen this quarter? - Management indicated that strong AURs and lean inventory levels contributed to the high gross margin, and they are focused on maintaining these levels moving forward [35][36] Question: What are the growth opportunities for Hollister internationally? - Management acknowledged the slow recovery post-COVID but noted positive trends in traffic and sales, particularly in localized markets like the U.K. and Germany [52][55] Question: What is the outlook for store growth next year? - Management confirmed plans to continue opening neighborhood stores, with a focus on testing and learning from customer responses [43][44]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12107 Abercrombie & Fitch Co. (Exact name of Registrant as specified in its charter) Delaware 31-1469076 (State ...

Financial Data and Key Metrics Changes - Total net sales grew 16% in Q2 2023, reaching $935 million, with comparable sales up 13% [16][17] - Operating margin improved to 9.6%, a significant increase from a roughly breakeven quarter last year [6][20] - Gross profit rate for the quarter was 62.5%, compared to 57.9% in 2022, reflecting a 460 basis point improvement [17][18] Business Line Data and Key Metrics Changes - Abercrombie brands saw a net sales increase of 26%, marking the highest second quarter sales since 2011 [5][7] - Hollister brands returned to growth with an 8% sales increase, exceeding internal expectations [10][14] - Both men's and women's segments in Abercrombie brands posted double-digit sales growth, with notable strength in pants and dresses for women and knit tops for men [9][10] Market Data and Key Metrics Changes - The Americas region led with 19% sales growth, while EMEA and APAC regions saw growth of 4% and 18%, respectively [14][17] - Sales growth continued into early August, indicating strong momentum across all regions [8][13] Company Strategy and Development Direction - The company is focused on maintaining tight inventory levels, finishing Q2 with total inventory down 30% year-over-year [6][19] - A regional operating model has been implemented to better support local customers, which is seen as a key growth enabler [15][16] - The company plans to open approximately 35 new stores, remodel 20, and close 30, indicating a net increase in store presence [22][54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2023, expecting continued sales growth across brands and regions [25][40] - The company raised its full-year sales growth outlook to around 10%, up from a previous estimate of 2% to 4% [22][25] - Management highlighted the importance of evolving brand positioning and assortment to meet customer needs [12][39] Other Important Information - The company reported a net income per diluted share of $1.10, compared to an adjusted net loss per share of $0.30 last year [21] - Cash at the end of the quarter was $617 million, with liquidity of $974 million [21] Q&A Session Summary Question: What drove the impressive momentum at Abercrombie? - Management noted that the brand is no longer just a jeans and t-shirt brand but has evolved into a lifestyle brand, with strong performance in various categories [28] Question: How is AUR expected to trend in the second half? - Management indicated that there is potential for further AUR growth, particularly in Hollister, as they have reduced promotions and improved product offerings [30][32] Question: What is the outlook for Hollister's performance? - Management expressed confidence in Hollister's growth trajectory, citing improved assortments and customer engagement [39] Question: How is the supply chain performing? - Management reported significant improvements in supply chain stability, allowing for better inventory management and responsiveness to trends [45] Question: What are the marketing strategies for the back half of the year? - The company plans to ramp up marketing efforts, particularly for Hollister, to attract new and lapsed customers [50][51] Question: How is the performance in EMEA and the U.K.? - Management noted that both regions are showing positive signs, with a focus on evolving brand positioning to capture market share [64] Question: What is the operating margin outlook for the brands? - Management indicated that Abercrombie's operating margin is higher than Hollister's, with expectations for continued improvement across both brands [71]

INVESTOR PRESENTATION: TABLE OF CONTENTS Safe Harbor and Other Information 3 Company Overview 4 Q2 2023 Results 14 Appendix 19 ...

Table of Contents For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-12107 Abercrombie & Fitch Co. (Exact name of Registrant as specified in its charter) Delaware 31-1469076 (Stat ...

INVESTOR PRESENTATION: TABLE OF CONTENTS Safe Harbor and Other Information 3 Company Overview 4 Q1 2023 Results 14 Appendix 19 ...

Financial Data and Key Metrics Changes - Total company sales grew by 3% year-over-year, reaching $836 million, marking the highest first-quarter sales level since 2014 [5][15] - Gross profit rate improved to 61% from 55.3% last year, driven by a 570 basis point increase due to higher average unit retail (AUR) and lower freight costs [17][19] - Operating income was $38 million compared to an operating loss of $6 million last year, with net income per diluted share at $0.39 compared to a net loss per share of $0.27 last year [19][20] Business Line Data and Key Metrics Changes - Abercrombie brands' sales were $436 million, accounting for 52% of total company sales, up 14% year-over-year [7][10] - Hollister brands experienced a sales decline of 7%, consistent with internal expectations, but improved gross profit rate due to lower freight costs and higher AUR [11][12] Market Data and Key Metrics Changes - U.S. sales increased by 9%, with a 4% comparable sales growth, while international sales declined by 12% overall but were flat on a comparable basis [16] - APAC region saw a 22% comp sales growth due to the reopening of China [16][59] Company Strategy and Development Direction - The company is focused on brand growth as part of its 2025 Always Forward Plan, emphasizing digital engagement and financial discipline [12][13] - The strategy includes managing inventory tightly and leveraging customer insights to evolve product assortments [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the second quarter and beyond, citing strong first-quarter execution despite macroeconomic challenges [14][20] - The company plans for net sales growth of 2% to 4% for the full year, reflecting an increase from previous guidance [20][21] Other Important Information - Inventory levels were down 20% compared to the previous year, allowing for better management of promotions and costs [18][19] - The company expects to open 35 to 40 new stores while closing 20 to 25, with a focus on the U.S. market [21] Q&A Session Summary Question: Insights on Hollister's performance and back half of the year - Management noted that Hollister met internal expectations for Q1, with a focus on evolving assortments and positive trends in non-denim categories [26][27] Question: Gross margin dynamics and promotional environment - Management highlighted improvements in gross margin due to lower freight costs and better AUR performance, while acknowledging the dynamic promotional environment [28][29] Question: Customer behavior and sales trends for Abercrombie - Management reported strong customer engagement and sales growth, particularly in the women's segment, with positive trends in men's business as well [32][33] Question: Inventory management and chasing capabilities - Management confirmed the ability to chase inventory effectively due to improved supply chain conditions, allowing for a leaner inventory approach [33][41] Question: Fashion trends and AUR growth across brands - Management indicated that both brands experienced AUR growth, with Abercrombie evolving into a lifestyle brand catering to diverse consumer needs [66][67] Question: Operating expenses and inflation impact - Management expects moderate deleverage on operating expenses due to ongoing investments in digital and technology, alongside inflationary pressures [68][69]