Abercrombie & Fitch (ANF) Tops Q1 EPS by 44c; offers outlook

Abercrombie & Fitch (NYSE: ANF) reported Q1 EPS of $2.14, $0.44 better than the analyst estimate of $1.70. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $961.98 million.

Fiscal 2024 Full Year Outlook

"The following outlook replaces all previous full year guidance. For fiscal 2024, the company now expects:

Net sales up around 10% from $4.3 billion in fiscal 2023. This is an increase to the previous outlook of growth in the range of 4% to 6%. We expect Abercrombie brands will continue to outperform Hollister brands and the Americas will continue to lead the regional performance."

Consensus for FY sales is $4.58B vs guidance implied $4.73B.

Fiscal 2024 Second Quarter Outlook

"For the second quarter of fiscal 2024, the company expects:

Net sales growth to be up mid-teens compared to fiscal second quarter 2023 level of $935 million.

Operating margin to be in the in the range of 13% to 14% compared to an operating margin of 9.6% in Q2 2023.

Effective tax rate to be mid-20s, with the rate being sensitive to the jurisdictional mix and level of income."

For earnings history and earnings-related data on Abercrombie & Fitch (ANF) click here.

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