CORRECTION: Abercrombie & Fitch Q1 Revenue Growth Outlook Up Low Double Digits YoY From $836M Vs, $896.52M Estimate
Portfolio Pulse from Benzinga Newsdesk
Abercrombie & Fitch projects its Q1 revenue for fiscal 2024 to increase by low double digits year-over-year from $836 million, with an operating margin between 8% to 10%, up from 4.6% in Q1 2023. The effective tax rate is expected to be around 10%, benefiting from discrete federal income tax advantages.
March 06, 2024 | 4:19 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Abercrombie & Fitch anticipates a low double-digit revenue increase in Q1 fiscal 2024 from $836 million, with operating margins expected to rise to 8-10% from 4.6% in Q1 2023.
The positive outlook for revenue growth and improved operating margins indicates a strong financial performance for Abercrombie & Fitch in the upcoming quarter. This is likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100