The earnings call reflected strong financial performance and growth across multiple segments, particularly in Abercrombie brands and regions outside the Americas. The company achieved significant operating margin expansion and reduced inventory levels, positioning itself well for the holiday season. However, there are challenges with higher operating expenses and the Hollister men's segment requires further improvement.

Company Guidance

During the Abercrombie & Fitch third quarter 2023 earnings call, the company reported a 20% increase in net sales, with growth across all regions, brands, and channels, surpassing expectations. The operating margin hit 13.1%, marking an expansion of over 1,100 basis points from the previous year, primarily due to a 570 basis point increase in the gross profit rate. Year-to-date, net sales rose 13% compared to the prior year, with an operating margin of 9.3%, showing an improvement of over 900 basis points. Abercrombie brands achieved a 30% year-over-year sales increase, marking the 11th consecutive quarter of growth, while Hollister brands grew by 11%. The company is strategically positioned to continue this momentum into the fourth quarter, raising its sales and operating margin expectations for 2023. Inventory levels were down 20% at the end of the quarter, providing a strong position for the peak holiday season.

Third Quarter Revenue Growth

Net sales increased by 20%, with growth across all regions, brands, and direct selling channels. Comparable sales were up 16%.

Operating Margin Expansion

Achieved a 13.1% operating margin, an expansion of over 1,100 basis points compared to the third quarter of 2022.

Abercrombie Brands Performance

Abercrombie brands delivered a 30% sales increase year-over-year, marking the 11th consecutive quarter of sales growth.

Hollister Brands Improvement

Hollister brands achieved 11% growth for the third quarter, showing progress as the company comped a disappointing 2022 back-to-school season.

Regional Sales Growth

On a comparable sales basis, the Americas grew 16%, EMEA grew 15%, and APAC grew 32%.

Reduced Inventory Levels

Inventory was down 20% compared to last year, allowing the company to be more strategic with promotions.

Strong Cash Position

Ended the quarter with $649 million in cash and liquidity of approximately $1 billion.

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Abercrombie Fitch (GB:0R32) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0R32 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 05, 2025	2024 (Q4)	3.52 / -	2.97	―	―	―
Nov 26, 2024	2024 (Q3)	2.38 / 2.50	1.83	36.61% (+0.67)
Aug 28, 2024	2024 (Q2)	2.22 / 2.50	1.1	127.27% (+1.40)
May 29, 2024	2024 (Q1)	1.76 / 2.14	0.39	448.72% (+1.75)
Mar 06, 2024	2023 (Q4)	2.83 / 2.97	0.81	266.67% (+2.16)
Nov 21, 2023	2023 (Q3)	1.20 / 1.83	0.01	18200.00% (+1.82)
Aug 23, 2023	2023 (Q2)	0.17 / 1.10	-0.3	466.67% (+1.40)
May 24, 2023	2023 (Q1)	>-0.01 / 0.39	-0.27	244.44% (+0.66)
Mar 01, 2023	2022 (Q4)	0.86 / 0.81	1.14	-28.95% (-0.33)
Nov 22, 2022	2022 (Q3)	-0.14 / 0.01	0.86	-98.84% (-0.85)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0R32 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 26, 2024	$156.81	$143.68	-8.37%
Aug 28, 2024	$166.68	$136.12	-18.34%
May 29, 2024	$152.76	$192.74	+26.17%
Mar 06, 2024	$139.80	$133.52	-4.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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