ANF - Abercrombie & Fitch Co. slumps 16% on missing Q4 expectation

Abercrombie & Fitch Co. (ANF -16.8%) drops 16% on missing Q4 estimates, missed revenue estimate by $20M at $1.16B. Digital net sales of $556M or 48% of total net sales as compared to $475M or 40% last year. More bifurcation of sales: Company repurchased $142M worth shares during Q4. Non-GAAP EPS of $1.14 misses by $0.13. Fran Horowitz, CEO, 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%.” Find more details in company presentation Previously (March

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Abercrombie & Fitch Co. slumps 16% on missing Q4 expectation