Abercrombie & Fitch Co. reported record third quarter net sales of $1.3 billion, marking a 7% increase from the previous year, continuing a streak of 12 consecutive quarters of growth.
Net sales growth was driven by a 7% increase in the Americas and EMEA regions, partially offset by a 6% decline in the APAC region.
Hollister brands saw significant growth of 16%, while Abercrombie brands experienced a slight decrease of 2%. Operating margin stood at 12.0%, with earnings per diluted share exceeding expectations at $2.36.
Sales Growth
Record third quarter net sales of $1.3 billion, representing a 7% increase from the previous year.
Brand Performance
Hollister brands achieved impressive growth of 16%, while Abercrombie brands saw a slight decline of 2%.
Share Repurchases
Abercrombie & Fitch Co. repurchased $100 million in shares in the quarter, totaling $350 million year-to-date.
Outlook
Narrowed full-year outlook to net sales growth of 6% to 7% and net income per diluted share of $10.20 to $10.50.
- The company's consistent quarterly sales growth over the past three years underscores its strong performance and market position.
- The positive growth in net sales across regions demonstrates Abercrombie & Fitch Co.'s ability to adapt to changing consumer trends and preferences.
- Strategic investments in marketing, digital, and technology have contributed to the company's overall success and financial performance.
Abercrombie & Fitch Co.'s exceptional third quarter results and narrowed full-year outlook reflect the company's resilience and strategic focus on sustainable growth and profitability in a challenging retail environment.