Abercrombie & Fitch Co - ANF STOCK NEWS

Abercrombie & Fitch Co. (NYSE: ANF) reported its highest third-quarter net sales since 2014, totaling $880 million, despite a 3% decline from last year. The results reflect flat performance on a constant currency basis. The company's gross profit rate dropped to 59.2% due to increased freight and raw material costs. Operating income fell significantly to $18 million from $73 million last year. For fiscal 2022, net sales are expected to decline by 2-3%, with an operating margin of 2-3%. The company emphasizes its strong inventory position for the holiday season, targeting strategic investments for long-term growth.

Abercrombie & Fitch Co. (NYSE: ANF) will host its quarterly earnings conference call on November 22, 2022, at 8:30 a.m. ET. The press release for the third quarter results will be available shortly after 7:30 a.m. ET. Participants can register for the call to receive dial-in details through the provided link. A live webcast will also be accessible on the company's investor website at the same time. Replay of the call will be available shortly after the event and archived for one year.

Abercrombie & Fitch Co. (NYSE: ANF) is enhancing its fulfillment capabilities by introducing alternate pickup locations for its U.S. e-commerce customers. This new service enables shoppers to select from approximately 12,000 locations, including FedEx and Walgreens, for order pickup. The company aims to provide a more convenient and efficient shopping experience, building on its existing omnichannel offerings.

Executive Vice President Larry Grischow emphasized the importance of meeting customer needs through seamless delivery options.

Hollister Co., a division of Abercrombie & Fitch Co. (ANF), launched a new payment option called Share2Pay™ on its mobile app. This innovative solution allows teens to share their digital shopping bags with parents or guardians for easier checkout. The idea arose from research indicating most teen shoppers lack purchasing power, which often leaves their online carts idle. Share2Pay™ enables a smoother transaction process, leading to nearly double the order rates among users. Currently, it's available in the US and UK.

Abercrombie & Fitch Co. (NYSE: ANF) reported notable Q2 results, achieving its highest sales since 2015 at $805 million, though down 7% year-over-year. Abercrombie brand grew 5%, while Hollister saw a 15% decline due to inflation and shifting consumer preferences. The gross profit rate decreased to 57.9%, mainly from increased costs. A revised 2022 outlook expects mid-single-digit sales decline, down from prior forecasts. However, management remains optimistic about navigating challenges effectively, supported by a solid balance sheet.

Abercrombie & Fitch (NYSE: ANF) has unveiled new getaway-concept stores in Los Angeles and Milan, reflecting a stylish hotel lobby aesthetic aimed at enhancing customer experience. The design prioritizes omni-channel shopping and caters to young millennial and zillennial customers. Key features include dedicated spaces for denim, customizable fitting rooms, and an inviting atmosphere that captures a vacation vibe. The brand plans to expand this store concept globally throughout the fiscal year and into 2023.

Abercrombie & Fitch Co. (NYSE: ANF) will host its second quarter earnings conference call on August 25, 2022, at 8:30 a.m. ET. A press release detailing the company's financial results will be issued at 7:30 a.m. ET. The call will be accessible via the company's website or by dialing in with specific numbers provided for domestic and international listeners. Interested parties can expect an archived version of the call available on the site following the event.

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.