Abercrombie & Fitch Q3 sales rise 14% to $1.2 billion; raises full-year sales outlook
Abercrombie & Fitch reported third-quarter fiscal 2024 net sales of $1.2 billion, up 14% from a year earlier, and diluted earnings per share of $2.50, compared with $1.83. The company raised its full-year net sales growth outlook to 14% to 15% from 12% to 13% and now expects an operating margin of around 15%, which points to stronger profit expectations for shareholders.
- Third-quarter net sales of $1.2 billion, up 14%; comparable sales rose 16%
- Diluted earnings per share of $2.50 versus $1.83 a year earlier; operating income of $179 million versus $138 million
- Full-year fiscal 2024 net sales growth outlook raised to 14% to 15%, from 12% to 13%; operating margin outlook around 15%, from 14% to 15%
- Repurchased 720,687 shares for about $100 million in the third quarter; $102 million remains on the November 2021 authorization