Abercrombie & Fitch Co. - ANF STOCK NEWS

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.

Abercrombie & Fitch Co. (NYSE: ANF) has announced the lineup for The Challenge, its annual music festival and fundraiser, set for September 20, 2024, at the company's Global Home Office in New Albany, Ohio. The event aims to support mental health, featuring headliners The Chainsmokers and Bebe Rexha, along with JVKE, The 502s, and Pink Sweat$. Since its inception in 2001, the event has raised over $50 million for six non-profit organizations. General admission tickets are $125, with VIP options available. Virtual attendance is also offered. For more details and to purchase tickets, visit www.anfchallenge.org.

Abercrombie & Fitch Co. (NYSE: ANF) reported stellar results for Q1 FY2024, marked by a 22% increase in net sales, reaching $1.0 billion – a record high for the company. Comparable sales grew by 21%, with Abercrombie brands seeing a 31% rise while Hollister brands grew by 12%. The operating margin surged to 12.7%, up 860 basis points year-over-year. Net income per diluted share was $2.14, compared to $0.32 last year. The company raised its full-year outlook to around 10% net sales growth and an operating margin of approximately 14%. As of May 4, 2024, Abercrombie had liquidity of $1.2 billion, with $864 million in cash and equivalents.

Abercrombie & Fitch Co. (ANF) will report its first-quarter 2024 results on May 29, 2024. The quarterly earnings conference call will take place at 8:30 a.m. ET, with the press release expected at 7:30 a.m. ET. A webcast and presentation of the results will be available on the company's website. Investors can register for the call and access important information on the corporate website.