Abercrombie & Fitch delivered record second quarter performance with net sales reaching $1.1 billion, up 21% YoY, driven by broad-based growth across regions and brands. Comparable sales increased 18%, with Abercrombie brands growing 26% and Hollister brands accelerating to 17% growth. Operating margin expanded 590 basis points to 15.5%, generating record Q2 operating income of $176 million.The company demonstrated strong regional performance, with Americas leading at 23% growth and EMEA achieving 16% growth. Gross profit rate improved 240 basis points to 64.9%. The company strengthened its balance sheet by redeeming all outstanding 8.75% senior secured notes and maintaining robust liquidity of $1.2 billion.Based on strong first-half results, Abercrombie raised its full-year outlook, now expecting net sales growth of 12-13% and operating margin of 14-15%. For Q3 2024, the company projects low double-digit net sales growth and operating margin of 13-14%, despite acknowledging an increasingly uncertain environment.

Abercrombie & Fitch delivered record second quarter performance with net sales reaching $1.1 billion, up 21% YoY, driven by broad-based growth across regions and brands. Comparable sales increased 18%, with Abercrombie brands growing 26% and Hollister brands accelerating to 17% growth. Operating margin expanded 590 basis points to 15.5%, generating record Q2 operating income of $176 million.The company demonstrated strong regional performance, with Americas leading at 23% growth and EMEA achieving 16% growth. Gross profit rate improved 240 basis points to 64.9%. The company strengthened its balance sheet by redeeming all outstanding 8.75% senior secured notes and maintaining robust liquidity of $1.2 billion.Based on strong first-half results, Abercrombie raised its full-year outlook, now expecting net sales growth of 12-13% and operating margin of 14-15%. For Q3 2024, the company projects low double-digit net sales growth and operating margin of 13-14%, despite acknowledging an increasingly uncertain environment.