Financial Data and Key Metrics Changes - The company reported net sales of $1 billion for Q1 2024, a 22% increase year-over-year, marking the best first quarter results in the company's history [7][17] - Operating income reached $130 million, representing a 12.7% operating margin, significantly up from 4.6% in the previous year [8][21] - Gross profit rate improved to 66.4%, up 540 basis points from 61% in the previous year, driven by lower cotton costs and reduced promotions [19][21] Business Line Data and Key Metrics Changes - Abercrombie brands saw a 31% increase in net sales, while Hollister brands grew by 12% in Q1 2024 [12][18] - The Wedding Shop launch contributed positively to Abercrombie's sales, particularly in women's dresses [13][29] - Hollister's men's division returned to growth, with notable performance in fleece tops and bottoms [14][15] Market Data and Key Metrics Changes - The Americas region experienced a 23% increase in net sales, while EMEA grew by 19% and APAC by 10% [11][17] - In EMEA, growth was primarily driven by the UK and Germany, with localized marketing efforts contributing to brand awareness [11][18] - APAC's growth was led by China, although it remains a small portion of the overall business at about 3% [43] Company Strategy and Development Direction - The company aims for sustainable, profitable growth, focusing on strategic investments in marketing, digital, and technology [8][10] - There is a strong emphasis on maintaining inventory discipline and reducing promotions to enhance gross profit rates [8][19] - The company is expanding its global presence and enhancing its brand portfolio through targeted marketing and customer engagement strategies [10][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2024 goals, supported by a strong start to Q2 and ongoing investments in technology and people [16][22] - The company anticipates mid-teens net sales growth for Q2 2024, with an expected operating margin of 13% to 14% [24][26] - There is an acknowledgment of potential challenges in the back half of the year, with a focus on learning from Q2 performance [42] Other Important Information - The company ended Q1 with cash of $864 million and liquidity of approximately $1.2 billion, with plans for share repurchases and capital expenditures of around $170 million [22][26] - The store fleet consisted of 753 stores, with plans for 60 new stores and 65 remodels in the full year [23] Q&A Session Summary Question: Key drivers for merchandise assortment and denim impact - Management noted balanced growth across categories, with Abercrombie women's dresses performing particularly well due to The Wedding Shop launch [29][30] Question: Drivers of same-store sales acceleration at Hollister - Management highlighted the turnaround in Hollister's men's business, particularly in tops, contributing to overall growth [35] Question: Marketing strategy for Hollister - The company plans to follow a similar marketing strategy for Hollister as it did for Abercrombie, focusing on customer acquisition and brand awareness [39] Question: Full year sales guidance rationale - Management indicated that the back half of the year may see a slowdown due to uncertainty, but remains optimistic about Q2 performance [42] Question: Customer acquisition at Abercrombie - The launch of The Wedding Shop has attracted new customers, and the company is investing in marketing to enhance brand awareness [45] Question: Outlook for SG&A leverage in the back half - Management does not expect significant SG&A leverage in the back half, with more focus on front half performance [61]

For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. Abercrombie & Fitch (ANF) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.Abercrombie & Fitch is a member of the Retail-Wholesale sect ...

Abercrombie & Fitch reported record first-quarter earnings results Wednesday (May 29), attributing the gains in part to increased marketing spend and an improved omnichannel experience.The apparel retailer’s highest first-quarter net sales ever came with an increase of 22% compared to the same period a year earlier, according to a Wednesday earnings release.“Both brand families [Abercrombie and Hollister] are contributing nicely to our business results while expanding their customer base through increased m ...

For the quarter ended April 2024, Abercrombie & Fitch (ANF) reported revenue of $1.02 billion, up 22.1% over the same period last year. EPS came in at $2.14, compared to $0.39 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $952.25 million, representing a surprise of +7.19%. The company delivered an EPS surprise of +28.92%, with the consensus EPS estimate being $1.66.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

About this content About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 20 ...

Abercrombie & Fitch (ANF) came out with quarterly earnings of $2.14 per share, beating the Zacks Consensus Estimate of $1.66 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 28.92%. A quarter ago, it was expected that this teen clothing retailer would post earnings of $2.81 per share when it actually produced earnings of $2.97, delivering a surprise of 5.69%.Over the last four quart ...

An Abercrombie & Fitch signage is seen on a store on Fifth Avenue on August 25, 2022 in New York City.Abercrombie & Fitch reported its strongest first quarter in its history on Wednesday, continuing a winning streak that again exceeded expectations.The retailer's sales jumped 22% compared to last year, while profits were nearly seven times higher and came in well ahead of Wall Street's estimates.Shares were up about flat in premarket trading.Here's how the apparel company did in its first fiscal quarter com ...

Net sales of $1.0 billion, up 22% from last year with comparable sales growth of +21%, resulting in the highest first quarter net sales in company historyBroad-based net sales growth across regions and brands; with Abercrombie brands growth of +31%First quarter operating margin of 12.7%, up 860 basis points from last yearIncreases full year outlook to net sales growth of around 10%, and operating margin of around 14% NEW ALBANY, Ohio, May 29, 2024 (GLOBE NEWSWIRE) -- Abercrombie & Fitch Co. (NYSE:ANF) today ...

Net sales of $1.0 billion, up 22% from last year with comparable sales growth of +21%, resulting in the highest first quarter net sales in company historyBroad-based net sales growth across regions and brands; with Abercrombie brands growth of +31%First quarter operating margin of 12.7%, up 860 basis points from last yearIncreases full year outlook to net sales growth of around 10%, and operating margin of around 14% NEW ALBANY, Ohio, May 29, 2024 (GLOBE NEWSWIRE) -- Abercrombie & Fitch Co. (NYSE: ANF) toda ...

Abercrombie & Fitch (ANF) prepares to report earnings for its fiscal first quarter early Wednesday, with rival American Eagle Outfitters (AEO) due after the close. Abercrombie & Fitch stock rose Tuesday to a fresh all-time high and out of buy range.X The trendy youth apparel retailers are reporting as investors closely watch the impact of lingering inflation on consumers' shopping habits. Last week, Urban Outfitters (URBN) issued strong earnings and a solid outlook for the current quarter.Led by Abercrombie ...