Abercrombie & Fitch Co. - ANF STOCK NEWS

Abercrombie & Fitch Co. (NYSE: ANF) announced a change in its Board of Directors, effective August 1, 2022. Felix Carbullido has stepped down from the Board after three years due to increased responsibilities in his new role as President of the Williams Sonoma brand. The company's Chairperson, Terry Burman, expressed gratitude for Carbullido's contributions, particularly in the Compensation and Human Capital and Environmental, Social, and Governance Committees. This transition could bring fresh perspectives to the Board.

Abercrombie & Fitch Co. (NYSE: ANF) has been recognized for the second consecutive year as a Great Place to Work, based on feedback from its associates. The certification reflects the company's commitment to an inclusive and supportive workplace culture. CEO Fran Horowitz highlighted ongoing improvements in the employee experience, such as enhanced workplace flexibility and expanded mental wellness benefits. These initiatives aim to foster a sense of belonging and support for employees, contributing to increased retention and overall workplace satisfaction.

Abercrombie kids, a division of Abercrombie & Fitch Co. (NYSE: ANF), has launched its 2022 denim collection, enhancing fit and sizing options. The collection now includes short, regular, and long lengths for all sizes, introducing waistband adjusters in every pair. Sizes range from 5/6 to 17/18, based on feedback from over 1,000 parents and kids. Fit tested by 300 children, the new collection aims to make shopping easier and more enjoyable. The announcement coincides with the fifth anniversary of the brand's inclusive 'everybody collection.'

Abercrombie & Fitch Co. (NYSE: ANF) has unveiled the musical lineup for its 20th annual A&F Challenge, scheduled for September 16, 2022. Headliners include OneRepublic, Gryffin, Surfaces, and renforshort. Since its inception in 2001, the event has raised over $30 million for community impact partners. This year, beneficiaries include the Academy Group and GLSEN. General admission is $100, while virtual options start at $25. The event will feature live entertainment, food, and various activities, showcasing Abercrombie & Fitch's commitment to community support.

Abercrombie & Fitch Co. (NYSE: ANF) has announced its 'Always Forward Plan' during its Investor Day, aiming for revenues of $4.1 to $4.3 billion and an operating margin rate of at least 8% by the end of fiscal 2025. Long-term, the company targets $5 billion in revenues and a margin of 10%. CEO Fran Horowitz emphasized the company's commitment to customer engagement and adapting to evolving market conditions. The plan focuses on brand growth, digital expansion, and financial discipline, aiming to generate $600 million in free cash flow from 2022 to 2025.

Abercrombie & Fitch Co. (NYSE: ANF) is hosting an Investor Day on June 14, 2022, at Tribeca 360, New York. The event will showcase the company's corporate strategy and financial targets, followed by a Q&A session. It will be broadcast live from 9:00 AM to 12:30 PM ET on the company’s Investors website, with a presentation available at 8:45 AM ET. A replay will be accessible for one year post-event. Abercrombie & Fitch is a global retailer known for its distinct brands and commitment to quality apparel, operating approximately 730 stores worldwide.

Abercrombie & Fitch has launched its 2022 Pride collection in collaboration with The Trevor Project, a key partner since 2010, donating over $2.8 million to support LGBTQ youth. This year, they increase their donation commitment by $400,000, featuring a gender-inclusive collection for adults and kids available in stores and online. The collection includes various apparel items, celebrating inclusivity with designs by Keith Haring. Additionally, they are promoting the #TrevorLoveChain TikTok campaign to reach LGBTQ youth and further support their mental health initiatives.

Hollister Co. is revamping its Brand Agent Program, introducing the Hollister FWD Fund to financially support teenagers' creative ambitions. This initiative aims to empower Gen Z as they explore entrepreneurial avenues, offering mentorship and unique co-creation opportunities in areas like fashion, gaming, and sports. The program reflects a growing trend, with 41% of Gen Z aspiring to own businesses. Through hands-on experience and support, Hollister encourages youth to transform their passions into potential careers.

Abercrombie & Fitch Co. (ANF) reported first quarter net sales of $813 million, marking a 4% increase compared to 2021 and the highest since 2014. However, operating margins fell short of expectations due to rising freight and product costs. The company incurred a net loss per diluted share of $0.32, down from a profit of $0.64 last year. Despite challenges in the APAC region caused by COVID lockdowns, U.S. sales grew by 6%. Looking ahead, the company expects flat to 2% growth for the full year, with operating margins projected between 5% to 6%. Share buybacks reduced outstanding shares by 6%.