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A&F sees strong Asia growth as global sales hit $1.2B

Abercrombie & Fitch reported record sales for Q3 of fiscal 2024, reaching $1.2 billion, a 14% increase from the previous year. The company saw a 16% rise in comparable sales, with a gross profit margin of 65.1%, up 20 basis points from last year. Operating income grew to $179 million, while net income per diluted share rose from $1.83 to $2.50. All regions experienced double-digit growth, with the Asia-Pacific region leading at a 32% increase. Both Abercrombie and Hollister brands saw strong performance, with Abercrombie up 11% and Hollister up 21%. In response to the strong results, the company raised its full-year sales outlook, now expecting net sales growth of 14% to 15%.

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