Abercrombie & Fitch Posts Strong Q3 Earnings, Raises 2024 Sales Outlook

The retailer achieved its sixth consecutive quarter of double-digit sales growth and anticipates a robust holiday season.

Abercrombie & Fitch reported Q3 net income of $131.98 million, or $2.50 per share, surpassing analyst expectations of $2.39 per share.
Sales rose 14% year-over-year to $1.21 billion, with comparable sales up 16% across all regions and brands.
The company raised its full-year sales growth forecast to 14%-15%, up from its previous estimate of 12%-13%, and expects Q4 sales to grow 5%-7%.
Hollister, catering to Gen Z shoppers, accounted for nearly half of total revenue, with its sales increasing 14% year-over-year.
Abercrombie continues to expand globally and diversify its offerings, including a wedding collection and a partnership with the NFL.