Abercrombie & Fitch Co. - Class A
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −3.82%.
Did ANF Beat Earnings? Q4 2025 Results
Abercrombie & Fitch capped its thirteenth consecutive quarter of net sales growth with a solid Q4 fiscal 2025 beat, as GAAP diluted EPS of $3.68 edged past the $3.57 consensus by 3.12% and revenue of $1.67 billion came in just ahead of estimates, rising 5.4% year over year. The earnings per share gain over the prior-year quarter's $3.57 was aided in large part by an aggressively reduced share count following $450 million in buybacks executed over the full fiscal year, even as operating margin compressed 210 basis points to 14.1% on higher cost of sales and selling expense. For the full year, Hollister emerged as the clear brand standout, posting 15% net sales growth to $2.74 billion, while the Abercrombie brand family slipped 1%. Looking ahead, management guided fiscal 2026 net sales growth of 3% to 5% and diluted EPS of $10.20 to $11.00, with the outlook absorbing an estimated 70 basis point full-year headwind from assumed 15% tariffs on all U.S. imports, net of mitigation efforts.
- Thirteenth consecutive quarter of net sales growth
- Balanced growth across regions, brands, and channels in Q4
- Hollister brands delivered 15% full-year net sales growth
- Full year comparable sales growth of 3%
- Continued investments in marketing, stores, people, and digital capabilities
“Our record fourth quarter net sales marked our thirteenth consecutive quarter of growth, with both operating margin and earnings per share at the high end of expectations we shared in early January.”
Abercrombie & Fitch CEO, on the earnings call
Forward Guidance & Outlook
For fiscal 2026, the company expects net sales growth of 3% to 5%, operating margin of 12.0% to 12.5%, an effective tax rate of around 29%, and net income per diluted share of $10.20 to $11.00. Share repurchases are expected to be around $450 million with diluted weighted-average shares of around 45 million. Capital expenditures are expected in the range of $200 to $225 million. The company plans approximately 30 net store openings (55 openings, 25 closures) and 70 remodels and right-sizes. For Q1 fiscal 2026, the company expects net sales growth of 1% to 3%, operating margin of around 7.0%, and diluted EPS of $1.20 to $1.30. The outlook incorporates an assumed 15% tariff on all goods imported into the United States, with a year-over-year tariff impact as a percentage of net sales of approximately 290 basis points for Q1 and 70 basis points for the full year, net of planned mitigation efforts.
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Figures from SEC filings and company reports. Not investment advice.