Suzanne M. Coulter, a director at Abercrombie & Fitch Co. (NYSE:ANF), recently sold 6,800 shares of the company's Class A common stock. The shares were sold at an average price of $161.802 per share, amounting to a total transaction value of approximately $1,100,253. Following this transaction, Coulter retains ownership of 9,275 shares directly. This sale was disclosed in a filing with the Securities and Exchange Commission on December 2, 2024. According to InvestingPro analysis, the stock currently trades near analyst targets ranging from $149 to $220, with 5 analysts recently revising earnings estimates upward. For deeper insights into insider trading patterns and comprehensive analysis, access the full Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Abercrombie & Fitch Co. has reported a strong performance in its third quarter, with record net sales of $1.2 billion, marking a 14% increase year-over-year. This growth was evenly distributed across different regions and brands, including Abercrombie and Hollister. The company's operating income saw a 30% surge, reaching $179 million, and its gross profit rate hit 65.1%, the highest for a third quarter since 2010.
In light of these results, Abercrombie & Fitch Co. has revised its full-year sales outlook upward, predicting a growth of 14-15%. The company also anticipates an operating margin of around 15% for the full year. These recent developments indicate a robust performance across all regions and brands, with significant contributions from both Abercrombie and Hollister brands.
Inventory levels rose by 16%, a strategic move to avoid potential shipping delays. The company also plans to open approximately 60 new stores across both brands and refresh around 40 Hollister locations. CEO Fran Horowitz emphasized the company's commitment to sustainable growth, while COO Scott Lipesky noted the significant improvement in the store base.
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