From Campus To Catwalk: Abercrombie & Fitch Soars With Q1 Earnings Leap And Raised Forecasts
Portfolio Pulse from Shivani Kumaresan
Abercrombie & Fitch Co (NYSE:ANF) reported strong Q1 FY24 earnings, with sales growth of 22% year-on-year to $1.02 billion, beating analyst estimates. The company also raised its FY24 net sales growth outlook from 4%-6% to 10% and its operating margin outlook from 12% to 14%. ANF shares are trading higher by 5% in premarket.
May 29, 2024 | 1:17 pm
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Abercrombie & Fitch Co (NYSE:ANF) reported strong Q1 FY24 earnings, with sales growth of 22% year-on-year to $1.02 billion, beating analyst estimates. The company also raised its FY24 net sales growth outlook from 4%-6% to 10% and its operating margin outlook from 12% to 14%. ANF shares are trading higher by 5% in premarket.
The strong Q1 earnings report, significant sales growth, and raised forecasts are likely to positively impact ANF's stock price in the short term. The 5% premarket increase in share price reflects investor optimism.
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