Abercrombie & Fitch Reports Record $1.1bn Q1 Sales and $1.47 EPS
ANF•Abercrombie & Fitch posted record Q1 net sales of $1.1bn, up 2% year-over-year, driven by 3% Americas growth and 24% APAC expansion despite a 10% EMEA decline. Operating margin hit 8.0% with diluted EPS of $1.47, and the company repurchased $105m while reaffirming full-year sales growth and margin targets.
1. Record Q1 Sales
Abercrombie posted record first-quarter net sales of $1.1bn, a 2% increase from last year, marking its 14th consecutive quarter of growth.
2. Regional Performance
Sales in the Americas rose by 3%, and APAC expanded by 24%, while EMEA sales fell by 10% due to Middle East conflict impacting regional demand.
3. Profitability and EPS
The company achieved an 8.0% operating margin and diluted EPS of $1.47, surpassing its outlook range, despite operating income declining to $89m from $102m last year.
4. Outlook and Shareholder Returns
Abercrombie reaffirmed full-year net sales growth guidance of 3-5%, projected Q2 sales growth of 2-4%, EPS between $1.80 and $2.00, and announced at least $150m in share repurchases following a $105m buyback this quarter.
