Scott D. Lipesky, Executive Vice President and Chief Operating Officer of Abercrombie & Fitch Co. (NYSE:ANF), recently sold 8,605 shares of the company’s Class A Common Stock. The shares were sold at a price of $150.20 each, totaling approximately $1.29 million. Following this transaction, Lipesky retains ownership of 97,850 shares in the company. This move comes as part of the regular reporting of insider transactions, providing investors with insights into the trading activities of company executives. According to InvestingPro analysis, ANF currently trades above its Fair Value, while maintaining a "GREAT" financial health score. The platform offers 12 additional exclusive ProTips and comprehensive analysis for investors seeking deeper insights into ANF's performance and valuation metrics.
In other recent news, Abercrombie & Fitch Co. has reported record-breaking net sales in its third quarter, reaching a substantial $1.2 billion. This represents a 14% increase compared to the same period last year, with balanced growth observed across different regions and brands. The company's operating income also experienced a significant surge, increasing by 30% to reach $179 million. In response to these robust results, Abercrombie & Fitch has revised its full-year sales outlook upward, now forecasting a growth of between 14% and 15%.
Notably, both Abercrombie and Hollister brands have contributed to the company's growth, with Abercrombie growing by 15% and Hollister by 14%. The company's gross profit rate reached 65.1%, marking the highest for a third quarter since 2010. Abercrombie & Fitch Co. also anticipates an operating margin of around 15% for the full year.
Despite a rise in inventory levels by 16%, recent developments indicate a strategic approach to managing potential shipping delays. Abercrombie & Fitch Co. is investing in enhancing the digital experience for customers and has plans to open approximately 60 new stores across both brands. As these recent developments unfold, Abercrombie & Fitch Co. remains committed to sustainable profitable growth, as emphasized by CEO Fran Horowitz.
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