Abercrombie & Fitch Co. (NYSE:ANF) Q2 2024 Earnings Conference Call August 28, 2024 8:30 AM ET

Company Participants

Mohit Gupta - VP, IR
Fran Horowitz - CEO
Scott Lipesky - EVP, CFO

Conference Call Participants

Dana Telsey - Telsey Advisory Group
Corey Tarlowe - Jefferies
Matthew Boss - JPMorgan
Paul Lejuez - Citi
Marni Shapiro - The Retail Tracker
Alex Straton - Morgan Stanley
Janet Kloppenburg - JJK Research Associates
Mauricio Serna - UBS
Dylan Carden - William Blair

Operator

Good day and thank you for standing by. Welcome to the Abercrombie & Fitch Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Mohit Gupta. Please go ahead.

Mohit Gupta

Thank you. Good morning and welcome to our Second Quarter 2024 Earnings Call. Joining me today on the call are Fran Horowitz, Chief Executive Officer, and Scott Lipesky, Chief Financial Officer and Chief Operating Officer. Earlier this morning we issued our second quarter earnings release, which is available on our website at corporate.abercrombie.com, under the Investor section. Also available on our website is an Investor Presentation. Please 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 mentioned today.

These factors and uncertainties are discussed in our reports and filings with the Securities and Exchange Commission. In addition, we'll 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 the Investor Presentation issued earlier this morning. Finally, references to Abercrombie brands include our Abercrombie & Fitch and Abercrombie Kids brands, and references to Hollister brands include our Hollister and Gilly Hicks brands. With that, I will turn the call over to Fran.

Fran Horowitz

Thanks, Mo, and thank you all for joining us this morning. I am incredibly proud to report our financial results exceeded the expectations we provided in May and set second quarter company records for both net sales and operating profit. We delivered strong second quarter net sales growth of 21%, reaching $1.1 billion with an operating margin of 15.5%. We achieved these outstanding results, while also funding long-term growth priorities across regions and brands. After a historic success in the first half, our teams are energized and we've entered the second half ready to deliver for our global customers.