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Tag: ANF

  • Abercrombie & Fitch Co. (ANF) stock declined in the current market; here is why?

    Abercrombie & Fitch Co. (ANF) declined in the current market after announcing its fourth quarter and fiscal 2021 results. ANF values at $29.78, losing more than 16% compared to yesterday’s closing price. The stock closed at $35.85 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.72 million shares. The current market cap of the company is about $2.15 billion.

    ANF: Q4 and Fiscal 2021 Key Financials

    • Abercrombie & Fitch Co.’s revenue in Q4 2021 was $1.16 billion. It is a slight gain in comparison to the revenue of $1.12 billion in Q4 2020.
    • Fiscal 2021 revenue was $3.7 billion, more than the revenue of $3.12 billion in fiscal 2020.
    • The company’s net income in Q4 2021 was around $67.8 million, less than compared to the net income of $85.2 million in Q4 2020.
    • ANF’s net income in fiscal 2021 was around $270 million, and profitability improved significantly compared to the net loss of $108.9 million in fiscal 2020.
    • The Q4 2021 diluted earnings per share were $1.12, less than compared to the eps of $1.27 in Q4 2020.
    • For fiscal 2021, the diluted earnings per share were $4.20, compared to a loss per share of $1.82 in fiscal 2020.

    ANF CEO’s Remarks

    Fran Horowitz, the CEO, said that 2021 highlights major changes made to improve our basis and boost profitability. Net sales of $3.7 billion, 47% digital penetration, double-digit AUR growth, $343 million reported and $355 million adjusted operating income, and a 9.6% adjusted operating margin,are our best in over a decade. We also reduced our ending share count by 15% by returning monies to shareholders.

    ANF 2022 Outlook

    Abercrombie & Fitch Co. (ANF) forecasts revenue growth of 2 to 4 percent in 2022 from $3.7 billion in 2021, with the US continuing to outperform EMEA and APAC. The company estimates that the revenue growth and the number of stores will fuel the rise. Net sales for the first quarter of fiscal 2022 are expected to rise by low-single digits compared to the first quarter of fiscal 2021, which was $781 million.

    Conclusion

    The company expects significant growth in the business in the upcoming fiscal. The business was slightly disturbed by the new Omicron variant surge, but the company regained the loss at the end of January 2022.

  • Abercrombie & Fitch Co. (ANF) stock Rises on Future Outlook Update After Hours

    Abercrombie & Fitch Co. (ANF) stock Rises on Future Outlook Update After Hours

    Abercrombie & Fitch Co. (ANF) provided an update on its fourth quarter and Fiscal year outlook, on January 10. Following the announcement, the stock rose in the after-hours by 5.56% on Monday.

    In the previous session, ANF stock traded in the red with a loss of 2.53% at its close of $32.35. The announcement led the stock to reach $34.15 in the after-hours with a gain of $1.80.

    Abercrombie & Fitch Co., the retailer of apparel, personal care products, and accessories, has a market capitalization of $1.88 billion. Currently, the company has 56.49 million shares outstanding in the market.

    ANF’s Fiscal 2021 Outlook Update

    According to Monday’s announcement, the company expects the net sales of 2021 to increase by 19% to 20% against 2020 ($3.125 billion). Further, an increase of 2% to 3% is expected over the net sales of 2019 ($3.623 billion).

    Moreover, ANF expects an operating margin in line with the previous outlook of 9% to 10% in 2021. This compares to an adjusted non-GAAP operating margin of 1.7% in 2020 and 2.3% in 2019.

    Added to this, the expected capital expenditures in 2021 are between $90 million and $95 million. Comparatively, the previous outlook was $100 million.

    ANF’s Q4 Outlook Update

    As per the updated outlook for the fourth quarter of 2021, ANF expects:

    • Net sales increase by 4% to 6% against $1.122 billion of Q4 2020 and decrease by 2% against $1.185 billion of Q4 2019. This compares to an increase of 3% to 5% over 2019 as of the previous outlook.
    • Approx. flat Gross profit to 58.2% of 2019, in-line.
    • Low-to-mid single digits operating expenses from $565 million adjusted non-GAAP operating expense of Q4 2019 (in-line).
    • Low to mid-20s effective tax rate against previous low 20s outlook.
    • $125 million share repurchases are inclusive of a quarter-to-date repurchase of $115 million.

    In addition, the company also announced its upcoming presentation at the ICR XChange Conference. The conference will take place from January 10 to 13, 2022 and ANF will be presenting on January 11 at 11 am EST.

    2021 Best Workplaces in RetailTM

    On November 04, the company announced being named one of the 2021 Best Workplaces in RetailTM. ANF was named so by Fortune magazine and workplace culture’s global authority, Great Place to Work®. Furthermore, it is the first time that the company has been named on this esteemed list.