ANF Earnings: Abercrombie & Fitch’s Q4 Results Blow Past Estimates
Market News

ANF Earnings: Abercrombie & Fitch’s Q4 Results Blow Past Estimates

Story Highlights

Abercrombie & Fitch posts strong Q4 results.

Abercrombie & Fitch Co. (NYSE:ANF) announced stellar fourth-quarter results. The lifestyle retailer generated net sales of $1.5 billion in Q4, up by 21% year-over-year on a constant currency basis and surpassed Street estimates of $1.43 billion. ANF’s comparable sales were up by 16% in the fourth quarter. The rise in sales was driven by growth across all its regions and brands.

The company reported adjusted earnings of $2.97 per share compared to $0.88 per share in the same period last year, which exceeded Street estimates of $2.83 per share.

Looking forward to the first quarter, ANF expects net sales to increase by low double-digits year-over-year with an operating margin of 8% to 10%. For FY24, the retailer has projected net sales to increase between 4% and 6%, with an operating margin of around 12%.

What Is the Target Price for ANF?

Analysts remain cautiously optimistic about ANF stock with a Moderate Buy consensus rating based on three Buys and four Holds. ANF stock has soared by more than 400% over the past year, and the average ANF price target of $119 implies a downside potential of around 15% at current levels. However, these ratings are likely to change following the announcement of ANF’s earnings today.

Related Articles
TheFlyCiti opens ‘positive catalyst watch’ on Abercrombie & Fitch into earnings
James FoxIs Abercrombie & Fitch (NYSE:ANF) Stock in Strong Buy Territory?
TheFlyTelsey names its Holiday 2024 Top Picks
Go Ad-Free with Our App