Abercrombie & Fitch Co. Reports Fourth Quarter and Full Year Results

•Fourth quarter and full year operating margin of 8.4% and 9.2% on a reported basis, respectively, and 8.6% and 9.6% on an adjusted non-GAAP basis, the highest in over a decade.
•Fourth quarter and full year net income per diluted share of $1.12 and $4.20, respectively on a reported basis and $1.14 and $4.35, respectively on an adjusted non-GAAP basis.
•Repurchased $142 million, or 4.1 million shares in the fourth quarter for a total of $377 million, or 10.2 million shares in Fiscal 2021; contributing to a 15% reduction in shares outstanding from Fiscal 2020.

Abercrombie & Fitch Co. (NYSE: ANF) today announced results for the fourth quarter and fiscal year ended January 29, 2022. These compare to results for the fourth quarter and fiscal year ended January 30, 2021. Descriptions of the use of non-GAAP financial measures and reconciliations of GAAP and non-GAAP financial measures accompany this release.

Fran Horowitz, Chief Executive Officer, said, “2021 is a testament to the fundamental changes we have made to strengthen our foundation and improve our profitability. For the year, we delivered: Net sales of $3.7 billion with 47% digital penetration; a double-digit AUR growth rate; reported and adjusted operating income of $343 million and $355 million, respectively, roughly 330% above 2019 levels; and a 9.6% adjusted operating margin, our highest in over a decade. In addition, by returning cash to shareholders through share repurchases, we reduced our ending share count by 15%.”

“We are pleased with our recent performance. Following inventory receipt delays that impacted the peak holiday selling period, sales trends initially improved as product began to arrive. While mid-January was impacted by the Omicron surge, sales rebounded in late January as cases fell and new assortments set. Momentum has continued quarter-to-date, with an acceleration in the sales trend from total fourth quarter levels. Importantly, response to early spring assortments has been strong, and we do not anticipate significant inventory supply issues for the remainder of the quarter.”
https://corporate.abercrombie.com/investors/newsevents/press-releases

Related Posts

Costco Wholesale Corporation Reports Fourth Quarter and Fiscal Year 2017 Operating Results and September Sales Results

Net sales for the 17-week fourth quarter were $41.36 billion, an increase of 15.8 percent from $35.73 billion in the 16-week fourth quarter of fiscal 2016. Net sales for the 53-week fiscal year were $126.17 billion, an increase of 8.7 percent from $116.07 billion in the 52-week fiscal year of 2016. The Company today also reported net sales of $12.40 billion for the month of September, the five weeks ended October 1, 2017, an increase of 12.1 percent from $11.06 billion during the similar period last year. Click Read More below for additional detail.

U.S. Postal Service Continues to Deliver a Record Number of Ballots

With less than one week until the November election, new U.S. Postal Service data show an exceedingly high-volume of mail moving through the system and a focus on delivery of ballots. Key Facts: *2.5 Days Average Delivery Time. Since October 1, the average time of delivery for First-Class Mail, including ballots, was 2.5 days with 97.5 percent of all measured First-Class Mail delivered within five days across the country. *4.5 Billion Political and Election Mail Mailpieces. Total mail volume surpassed 4.5 billion mailpieces for both Political Mail and Election Mail tracked, representing an increase of 114 percent compared to the 2016 election cycle. *122 Million Ballots Processed and Delivered. Since Sept. 4, the Postal Service has processed and delivered more than 122 million ballots, including both blank ballots delivered from election officials to voters and completed ballots from voters to election officials.1

USPS, Inspection Service Continue Nationwide Effort to Crack Down on Postal Crime

The U.S Postal Service (USPS) and U.S. Postal Inspection Service (Inspection Service) provided an update on their Project Safe Delivery campaign to crack down on postal crimes, including attacks against postal employees. Announced in May 2023, Project Safe Delivery is a USPS initiative to combat the recent rise in threats and attacks on letter carriers and mail theft incidents by protecting Postal employees and the security of the nation’s mail and packages. Multiple departments within USPS, including the Inspection Service, the Office of the Chief Information Officer, and the Office of the Chief Retail and Delivery Officer are working together to support the ongoing campaign. To help strengthen this effort, the Inspection Service has also significantly increased monetary rewards for information leading to the arrest or conviction of a perpetrator of postal crimes. “As our nation continues to address a sustained crime wave, our targeted focus to crack down on postal crime is progressing,” said Postmaster General and Chief Executive Officer Louis DeJoy. “The safety of our letter carriers — and all postal employees — is our top priority. We will continue to work steadfastly with our law enforcement partners to increase the safety of our employees and protect the sanctity of the nation’s mail.”
Back To Top
×Close search
Search