Abercrombie & Fitch Co. announced its third-quarter fiscal 2024 results on November 26, 2024, reporting net income of $131.98 million, or $2.50 per share, compared to $96.2 million, or $1.83 per share, a year earlier. Sales rose to $1.21 billion, up approximately 14% from $1.06 billion in the prior year. This marked the company's sixth consecutive quarter of double-digit sales growth.
The company also raised its full-year sales outlook, expecting sales to rise between 14% and 15%, up from its previous range of 12% to 13%. For the holiday shopping quarter, Abercrombie projected sales growth of 5% to 7%. CEO Fran Horowitz noted broad-based growth across all regions and brands, with Americas growing 14%, EMEA 15%, and APAC 32%.
Abercrombie brands achieved 11% comparable sales growth, building on 26% growth last year, while Hollister brands saw 21% comparable sales growth, following 7% last year. Operating income for the quarter was $179 million, a 30% increase from 2023. The company also announced the promotion of Robert Ball to Chief Financial Officer, effective November 20, 2024, succeeding Scott Lipesky, who remains Executive Vice President and Chief Operating Officer.
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