Abercrombie & Fitch Co Stock Price, News & Analysis

Abercrombie & Fitch Co. (NYSE: ANF) announced a deal with AEP Energy to source all electricity for its New Albany headquarters and distribution centers from renewable energy starting in 2023. This 13-year agreement covers about 30,000 megawatt hours annually, cutting approximately 16,000 metric tons of carbon emissions each year, equivalent to 27,000 acres of U.S. forests. The initiative aligns with A&F's goal to reduce Total Scope 1 and 2 greenhouse gas emissions by 2030, demonstrating a strong commitment to sustainability.

Abercrombie & Fitch Co. (NYSE: ANF) has appointed Kenneth Robinson as a director, effective February 4, 2021. Robinson brings over 40 years of experience in consumer retail, having previously served as Senior VP of Audit and Controls at Exelon Corporation and various roles at Procter & Gamble. His expertise in finance, risk, and compliance is expected to enhance the board's effectiveness. With Robinson's election, the board expands to 13 members, comprising mostly independent directors. Robinson expressed enthusiasm about supporting the company’s sustainability and diversity initiatives.

Abercrombie & Fitch Co. (NYSE: ANF) will hold its fourth quarter and full year 2020 earnings conference call on March 2, 2021, at 8:30 a.m. ET. A press release with detailed financial results is expected at 7:30 a.m. ET. Stakeholders can access the call via the company’s investor website or by dialing into the provided conference numbers. The presentation will also be available online. This event will provide insights into the company's financial performance, which may be impacted by factors including the COVID-19 pandemic.

Hollister Co. has launched a limited-edition collection in honor of Black History Month, partnering with teens and brand associates. The initiative aims to promote cultural awareness while donating $70,000 in net proceeds to The Academy Group, a nonprofit focused on opportunities for resilient communities. This follows a previous donation of $200,000 to the same organization. The collection features designs emphasizing unity and equality, showcasing collaboration between Black brand ambassadors and Hollister associates.

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Abercrombie & Fitch Co. (NYSE: ANF) has appointed Holly May as its new Chief Human Resources Officer, responsible for leading the company’s global HR strategy. May brings extensive experience from her previous role at Starbucks, where she oversaw global compensation and benefits. CEO Fran Horowitz expressed confidence that May's leadership will enhance talent management and diversity efforts. The appointment aligns with the company's aims to strengthen its HR capabilities and organizational culture.

Abercrombie & Fitch Co. (NYSE: ANF) announced its fiscal fourth quarter 2020 update, projecting a net sales decline of 5% to 7%, improved from previous estimates of down 5% to 10%. The gross profit rate is expected to rise by at least 130 basis points due to reduced promotions, while operating expenses may decrease by at least 2% compared to fiscal 2019. CEO Fran Horowitz highlighted the company's digital momentum despite ongoing store closures and restrictions, aiming for effective inventory and expense management.

Hollister Co., a global teen retailer, has formed a long-term partnership with The Academy Group, a non-profit focused on empowering youth from resilient communities. An initial donation of $200,000 will support educational and mentorship programs for Academy Group students. The collaboration reflects a commitment to addressing social injustices and closing the opportunity gap for Gen Z. The Academy Group provides resources and mentoring across a 14-year journey for students, preparing them for successful careers.

Abercrombie & Fitch Co. (NYSE: ANF) reported a net income per diluted share of $0.66 (GAAP) and $0.76 (non-GAAP) for Q3 2020, showcasing significant cash flow growth driven by a 43% increase in digital sales to $382 million. Total net sales were $820 million, reflecting a 5% decline compared to last year, primarily due to COVID-19 impacts. The company announced the early exit of four flagship stores, reducing liabilities and aligning with their strategy to optimize the store network. Liquidity stands strong at approximately $1.2 billion.