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Abercrombie tops expectations for Q4 earnings and revenue, shares down

March 6, 2024

Abercrombie & Fitch (ANF) reported better-than-expected earnings and revenue for the fiscal fourth quarter, with comparable sales and gross margin also topping expectations.

ANF shares fell around 3% at the market open.

The company announced its Q4 earnings per share (EPS) at $2.97, surpassing the analysts’ prediction of $2.83. Revenue came in at $1.5 billion, exceeding the consensus estimate of $1.43 billion.

Abercrombie recorded a 16% increase in comparable sales during the quarter, slightly above the 15.7% estimate. Furthermore, the gross margin was reported at 62.9%, also above the forecasted 60.2%.