Abercrombie & Fitch Co. - ANF STOCK NEWS

Abercrombie & Fitch (NYSE: ANF) has promoted Robert Ball to Chief Financial Officer, effective November 20, 2024. Ball, who previously served as Senior Vice President of Corporate Finance, Investor Relations, and Treasury, brings nearly 22 years of experience with the company. He succeeds Scott Lipesky, who was promoted to Chief Operating Officer in May 2023 after serving as CFO since 2017. Ball will report to Lipesky and join the executive leadership team. Prior to this appointment, Ball held various finance leadership positions at A&F, including CFO of the Abercrombie & Fitch and abercrombie kids brands.

Abercrombie & Fitch reported strong Q3 fiscal 2024 results with record net sales of $1.2 billion, up 14% year-over-year, and comparable sales growth of 16%. Operating income increased 30% to $179 million, with operating margin expanding to 14.8%. The company saw broad-based growth across regions: Americas (+14%), EMEA (+15%), and APAC (+32%). Abercrombie brands grew 15% while Hollister brands increased 14%. Based on Q3 performance, the company raised its full-year outlook, projecting net sales growth of 14-15% and operating margin around 15%. The company also repurchased 924,000 shares for $130 million year-to-date.

Abercrombie & Fitch (NYSE: ANF) has announced it will host its third quarter 2024 earnings conference call on November 26, 2024, at 8:30 a.m. ET. The company will release its Q3 results press release shortly after 7:30 a.m. ET, along with a presentation available on their website. Interested parties can access the conference call via phone registration or listen to a live webcast through the corporate website. A replay of the webcast will be archived for one year on the company's investor relations site.

Abercrombie & Fitch Co. (NYSE: ANF) reported strong second quarter fiscal 2024 results, with record net sales of $1.1 billion, up 21% year-over-year. Comparable sales grew 18%, driven by broad-based growth across regions and brands. Abercrombie brands saw 26% growth, while Hollister brands accelerated to 17% growth.

The company achieved a record Q2 operating income of $176 million, with operating margin expanding 590 basis points to 15.5%. ANF strengthened its balance sheet by redeeming outstanding senior secured notes and amending its ABL Facility, resulting in $1.2 billion in liquidity.

Based on strong performance, ANF increased its full-year outlook, projecting net sales growth of 12-13% and an operating margin of 14-15%. The company remains focused on executing its global playbook and maintaining discipline over inventory and expenses to deliver sustainable, profitable growth.

Abercrombie & Fitch Co. (ANF) reported strong Q2 fiscal 2024 results, with record net sales of $1.1 billion, up 21% year-over-year. Comparable sales grew 18%, driven by broad-based growth across regions and brands. Abercrombie brands saw 26% growth, while Hollister brands accelerated to 17% growth. Operating margin expanded 590 basis points to 15.5%, with record Q2 operating income of $176 million. The company strengthened its balance sheet by redeeming outstanding senior secured notes and amending its ABL Facility, resulting in $1.2 billion in liquidity. Based on strong performance, A&F increased its full-year outlook, now expecting net sales growth of 12-13% and operating margin of 14-15%.

Abercrombie & Fitch Co. (NYSE: ANF) has announced the election of Andrew Clarke to its Board of Directors, effective August 21, 2024. Clarke, 51, is the Global President of Mars Snacking and brings over 30 years of experience in consumer-focused industries. His appointment is expected to provide a global perspective and strategic capabilities to the company as it enters its next growth phase.

Clarke's extensive background includes 24 years at Mars in various roles, including Chief Customer and Marketing Officer. His experience spans multiple regions, including Europe and Latin America. Nigel Travis, Chairperson of the Board, highlighted Clarke's diverse geographic experience and success in driving growth as key assets for the company.

Hollister, a brand of Abercrombie & Fitch Co. (NYSE: ANF), has launched its Collegiate Graphics Shop for the back-to-school and fall sports seasons. The collection features 67 officially licensed graphics products representing over 30 U.S. universities, including crewnecks, hoodies, and tees with vintage-inspired logos. Prices range from $29.95 to $59.95.

To promote the collection, Hollister has enlisted 350+ college student-athletes across 10+ sports as ambassadors, including notable names like Ohio State's TreVeyon Henderson and Florida's Leanne Wong. The brand aims to provide trendy, high-quality options for teens to show school spirit, filling a gap in their target demographic.

Abercrombie & Fitch Co. (NYSE: ANF) has announced a strategic partnership with Haddad Brands to expand the global reach of its abercrombie kids brand. This collaboration aims to create new distribution channels and grow the product line by adding infant and toddler categories to the existing 5-14-year-old assortment. A&F Co. will continue to design, produce, and sell abercrombie kids through its owned-and-operated channels, while Haddad Brands will focus on expanding the brand's global presence.

The partnership is set to diversify A&F Co.'s channel mix and drive sustainable, profitable growth. The Fall/Back to School 2025 season of abercrombie kids will be available in Haddad Brands' showrooms globally in September, marking the beginning of this new venture.

Abercrombie & Fitch Co. (NYSE: ANF) has announced its upcoming second quarter 2024 earnings release and conference call, scheduled for August 28, 2024. The company will issue a press release detailing its Q2 results shortly after 7:30 a.m. ET, followed by an earnings conference call at 8:30 a.m. ET. A presentation of the results will be available on the company's website at approximately 7:30 a.m. ET.

Interested parties can access the conference call by registering for a dial-in number and access code. Additionally, a live webcast of the call will be available on the company's investor relations website. A replay of the webcast will be archived for one year after the call ends.