Abercrombie & Fitch Company (NYSE:ANF) Q1 2024 Earnings Conference Call May 29, 2024 8:30 AM ET

Company Participants

Fran Horowitz - Chief Executive Officer
Scott Lipesky - Executive Vice President, Chief Financial Officer
Mohit Gupta - Vice President, Investor Relations

Conference Call Participants

Dana Telsey - Telsey Advisory Group
Matthew Boss - JP Morgan
Marni Shapiro - The Retail Tracker
Alex Stratton - Morgan Stanley
Mauricio Serna - UBS
Kelly Crago - Citi
Janet Kloppenburg - JJK Research Associates

Operator

Good day and thank you for standing by. Welcome to the Abercrombie & Fitch first quarter fiscal year 2024 earnings call. Today’s conference is being recorded.

At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question and answer session. To ask a question during the session, you will need to press star-one-one on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press star-one-one again.

I would now like to hand the conference over to Mo Gupta. Please go ahead.

Mohit Gupta

Thank you. Good morning and welcome to our first quarter 2024 earnings call. Joining me today are Fran Horowitz, Chief Executive Officer, and Scott Lipesky, Chief Financial Officer and Chief Operating Officer.

Earlier this morning, we issued our first quarter earnings release, which is available on our website at corporate.abercrombie.com under the Investors section. Also available on our website is an investor presentation.

Keep in mind that we will make certain forward-looking statements on the call. These statements are subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions we mention today. These factors and uncertainties are discussed in our reports and filings with the Securities and Exchange Commission.

In addition, we will be referring to certain non-GAAP financial measures during the call. Additional details and reconciliations of GAAP to adjusted non-GAAP financial measures are included in the release and investor presentation issued earlier this morning. Finally, references to Abercrombie brands includes Abercrombie & Fitch and Abercrombie Kids, and references to Hollister brands includes Hollister and Gilly Hicks.

With that, I’ll turn the call over to Fran.

Fran Horowitz

Thanks Mo. Good morning and thank you for joining us to discuss what has been a very busy and productive start to 2024. I’m happy to report that our sales trend remained strong throughout the first quarter, exceeding expectations we provided in early March. Net sales of $1 billion and operating income of $130 million were both the best first quarter results in the history of the company.