Abercrombie & Fitch Fourth Quarter Performance
Abercrombie & Fitch reports robust growth in Q4, exceeding analyst estimates and showcasing strong same-store sales. CEO optimistic for future.
In a standout quarter for Abercrombie & Fitch, the renowned name-brand store showcased robust growth. Despite a recent surge, the company's shares dipped slightly post-announcement.
Fourth Quarter Earnings: Earnings per share reached $2.97, with revenue hitting $1.45 billion, surpassing FactSet analysts' projections of $2.83 EPS on $1.43 billion revenue. This marked a significant improvement from the previous year's 81 cents EPS and $1.2 billion revenue.
Same-Store Sales: Noteworthy same-store sales growth of 16% in the quarter aligned with market expectations.
Full-Year Results: Abercrombie & Fitch closed the year with earnings per share of $6.28 on revenue amounting to $4.28 billion, exceeding analyst estimates of $6.13 EPS and $4.26 billion revenue. The contrast from the prior year's performance was stark, with earnings per share standing at 12 cents and revenue at $3.7 billion.
Future Outlook: Anticipating a net sales growth of 4% to 6% from the $4.3 billion recorded in fiscal 2023, Abercrombie & Fitch remains optimistic. This forecast supersedes the consensus estimate of $4.43 billion.
In response to the company's performance, CEO Fran Horowitz expressed satisfaction with the growth trend continuing across Abercrombie and Hollister brands. Abercrombie brands demonstrated remarkable growth of 35%, while Hollister brands enjoyed a 9% increase for the third consecutive quarter.
Stay tuned for further updates on Abercrombie & Fitch's journey towards sustained success.
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