Abercrombie & Fitch's Global Growth Powers Q3 Beat, Outlook Raised For 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2024
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Source: Benzinga
Earnings Report: Abercrombie & Fitch Co reported a 14% year-over-year sales growth to $1.21 billion, exceeding analyst expectations, with adjusted EPS of $2.50 also beating estimates. The company anticipates fourth-quarter net sales growth of 5% to 7% and has raised its full-year sales outlook to 14%-15%.
Leadership Changes: Robert Ball has been promoted to Chief Financial Officer effective November 20, 2024, while Scott Lipesky continues as COO after serving as CFO since 2017.
Analyst Views on ANF
Wall Street analysts forecast ANF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ANF is 115.25 USD with a low forecast of 90.00 USD and a high forecast of 160.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
4 Buy
5 Hold
0 Sell
Moderate Buy
Current: 97.460
Low
90.00
Averages
115.25
High
160.00
Current: 97.460
Low
90.00
Averages
115.25
High
160.00
About ANF
Abercrombie & Fitch Co. is a global, digitally led omnichannel specialty retailer of apparel and accessories. The Company offers an assortment of apparel, personal care products and accessories for men, women and kids, which are sold primarily through its Company-owned stores and digital channels, as well as through various third-party arrangements. The Company’s brands include Abercrombie brands, which includes Abercrombie & Fitch, abercrombie kids, and Your Personal Best (YPB), and Hollister brands, which include Hollister and Gilly Hicks. Its geographic segments include the Americas, EMEA, and APAC. The Company also offers its loyalty programs, which include Abercrombie’s myAbercrombie and Hollister’s Hollister House Rewards. The Company operates approximately 790 stores under these brands across North America, Europe, Asia and the Middle East, as well as the e-commerce sites abercrombie.com, abercrombiekids.com, and hollisterco.com.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
