Abercrombie & Fitch Deliver Positive Earnings Amid Uncertainty
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Abercrombie & Fitch (NYSE:ANF) reported strong Q2 FY2024 earnings, with net sales reaching .1 billion, a 21% increase year-over-year, and a 590 basis point improvement in operating margin to 15.5%. Despite a 15% drop in shares on August 28, 2024, stocks are up 51% year-to-date. The company projects 12-13% net sales growth for the upcoming fiscal year, expecting Abercrombie brands to outperform Hollister. With a P/E ratio of 17, Abercrombie remains in attractive value territory with consistent growth ahead.
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