Abercrombie & Fitch (ANF) Tops Q2 EPS by 31c; offers outlook

Abercrombie & Fitch (NYSE: ANF) reported Q2 EPS of $2.50, $0.31 better than the analyst estimate of $2.19. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.1 billion.

Fiscal 2024 Full Year Outlook

Net sales growth in the range of 12% to 13% from $4.3 billion in fiscal 2023. This is an increase to the previous outlook of around 10%. We expect Abercrombie brands will continue to outperform Hollister brands and the Americas will continue to lead the regional performance. The following table illustrates the expected quarterly and full year net sales and related basis point impact of the calendar shift and loss of one selling week in fiscal 2024 compared to fiscal 2023.

For the third quarter of fiscal 2024, the company expects:
Net sales growth to be up low double-digits compared to fiscal third quarter 2023 level of $935 million.

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