"Since 2019, Abercrombie & Fitch Co. has undergone a resurrection from discarded early 2000s mall brand to a sought after brand for millennials and older Gen Zs. Abercrombie reported $1.29 billion in revenue for quarter three, up 7% year-over-year. The Tuesday, November 25 earnings report is the 12th in a row with consecutive growth between quarters. The company also beat Wall Street's predicted $1.28 billion in revenue and reached earnings per share of $2.36 earnings, rather than the estimated $2.16."
"Notably, the most recent growth of Abercrombie (the company) hasn't been fueled by Abercrombie (the brand). This quarter saw the retail store's net sales sink 2% YOY to $617.35 million - a 7% decrease in comparable sales. It's an improvement from quarters one and two, during which the brand also saw declines in net sales: a 4% reduction YOY to $547.95 million in quarter one and a 5% drop YOY to $551,868 in quarter two."
"Instead, it was another brand beloved by millennials as teens that has held up the once logo tee and low-rise jean-adorned fort. Abercrombie-owned Hollister reported $673.27 million in net sales for the most recent quarter. This figure represents a 16% increase YOY and a 15% jump in comparable sales. Hollister's success left the company with a 7% improvement in net sales YOY."
Abercrombie & Fitch Co. posted $1.29 billion revenue in Q3, up 7% year-over-year, marking the twelfth consecutive quarterly growth. The company beat revenue and EPS estimates, reporting $2.36 per share versus $2.16 expected. Company-wide net sales rose 7% driven by Hollister, which generated $673.27 million, a 16% YoY increase and 15% comparable sales jump. The Abercrombie brand declined: retail net sales fell 2% to $617.35 million with a 7% comparable sales decrease, after earlier quarter declines. Management cited earlier markdowns and inventory reduction and reported sequential progress on inventory control.
Read at Fast Company
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