Abercrombie & Fitch Co. - ANF STOCK NEWS

Abercrombie & Fitch has partnered with The Trevor Project for over 11 years, donating more than $2 million to support vital services for LGBTQ youth. The company launched its 2021 Pride collection, featuring a 24-piece gender-inclusive adult line and an 11-piece kids collection, co-created with The Trevor Project. This initiative aims to celebrate diversity, with designs that reflect the Progress Flag colors. In addition to this collection, Abercrombie & Fitch will make an initial donation of $200,000 to The Trevor Project, emphasizing its ongoing commitment to the LGBTQ community.

Abercrombie & Fitch Co. (NYSE: ANF) reported a strong first quarter for 2021, achieving the highest operating income since 2008. Net income per diluted share reached $0.64, a significant recovery from $(3.90) in 2020. Total net sales soared 61% year-over-year to $781 million, with digital sales making up 52% of total revenue. The gross profit margin improved by 900 basis points to 63.4%. Despite store closures, the company recorded a 6% increase in net sales compared to the pre-COVID levels of 2019. Liquidity stood at approximately $1.1 billion.

Hollister Co., part of Abercrombie and Fitch Co. (NYSE: ANF), is partnering with social media stars Charli and Dixie D’Amelio to launch Social Tourist, a new apparel brand, on May 20. This exclusive, multi-year agreement allows the D’Amelio sisters to co-create a brand reflecting Gen Z's style and social media culture. The collection will feature gender-inclusive items, trend pieces, and everyday essentials, with monthly product drops. The collaboration aims to resonate with Hollister’s teen audience, further solidifying the brand’s market position.

Abercrombie & Fitch Co. (NYSE: ANF) will host its first quarter earnings conference call on May 26, 2021, at 8:30 a.m. ET. A press release with results will be available shortly after 7:30 a.m. ET, with a presentation accessible on the company's website. Interested parties can log in online or call in, with domestic and international dial-in numbers provided. The call will be archived for later access on the website. A forward-looking statement cautions risks related to the ongoing COVID-19 pandemic.

Abercrombie & Fitch Co. (ANF) reported a fourth quarter net income per diluted share of $1.27 (GAAP) and $1.50 (non-GAAP), driven by 34% growth in digital sales. The company ended fiscal 2020 with 54% of revenues derived digitally and reduced global store square footage by 17%, equating to 1.1 million gross square feet. Annual net sales dropped 14% to $3.1 billion due to COVID-19's impact. Despite challenges, the company maintains a strong liquidity position of $1.3 billion and is focused on sustainable growth strategies.

Hollister Co. is partnering with TikTok stars to host virtual discussions on mental wellness for high schoolers on World Teen Mental Wellness Day, March 2, 2021. The initiative aims to reduce the stigma surrounding mental health in teens, reflecting a commitment to mental wellness. In support of this cause, Hollister will donate $1 million to 20 organizations focused on teen mental health and related issues. A limited-edition product collection will also contribute to this fund, with $10 per sale benefiting the Hollister Confidence Project.

Abercrombie & Fitch Co. (NYSE: ANF) announced a deal with AEP Energy to source all electricity for its New Albany headquarters and distribution centers from renewable energy starting in 2023. This 13-year agreement covers about 30,000 megawatt hours annually, cutting approximately 16,000 metric tons of carbon emissions each year, equivalent to 27,000 acres of U.S. forests. The initiative aligns with A&F's goal to reduce Total Scope 1 and 2 greenhouse gas emissions by 2030, demonstrating a strong commitment to sustainability.

Abercrombie & Fitch Co. (NYSE: ANF) has appointed Kenneth Robinson as a director, effective February 4, 2021. Robinson brings over 40 years of experience in consumer retail, having previously served as Senior VP of Audit and Controls at Exelon Corporation and various roles at Procter & Gamble. His expertise in finance, risk, and compliance is expected to enhance the board's effectiveness. With Robinson's election, the board expands to 13 members, comprising mostly independent directors. Robinson expressed enthusiasm about supporting the company’s sustainability and diversity initiatives.