Abercrombie & Fitch FY24 Revenue Outlook $4.47B - $4.56B Vs, $4.26B Estimate
Portfolio Pulse from Benzinga Newsdesk
Abercrombie & Fitch projects FY24 revenue to be between $4.47B and $4.56B, surpassing the $4.26B estimate. The company anticipates 4% to 6% sales growth from $4.3B in FY23, despite a $50M impact from an extra reporting week. Abercrombie brands are expected to outperform Hollister, with stronger growth in the Americas and the first half of the year. Operating margin is forecasted at 12%, up from 11.4%, with capital expenditures at $170M. The effective tax rate is expected to be mid-to-high 20s.
March 06, 2024 | 12:34 pm
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Abercrombie & Fitch anticipates FY24 revenue to exceed estimates, with a projected increase in sales growth and operating margin.
The positive revenue outlook and expected sales growth, along with an improvement in operating margin, suggest a bullish short-term impact on ANF's stock. The company's projection surpassing the estimates, coupled with strategic focus on brand performance and regional growth, underlines a strong financial health and operational efficiency, likely to be viewed favorably by investors.
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