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we saw sales improve across brands each month as we went through the quarter at a nice start
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2023 Q2
16 Sep 23
We've also seen sales growth continue for Abercrombie brands into early August.
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2023 Q2
16 Sep 23
seeing that nice momentum coming off of June into July, into August
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2023 Q2
16 Sep 23
4% growth in EMEA and 18% growth in APAC
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2023 Q2
16 Sep 23
we saw the strongest Q2 results in the Americas with 19% sales growth
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2023 Q2
16 Sep 23
we feel like we have some more AUR to go get out there, specifically in Hollister
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2023 Q2
16 Sep 23
So we were able to raise that AUR up year-over-year for Hollister
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2023 Q2
16 Sep 23
And we didn't chase any volume with promotions.
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2023 Q2
16 Sep 23
just that Abercrombie business outperforming higher AUR than Hollister, so we get a nice mix benefit there
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2023 Q2
16 Sep 23
We expect the year-over-year improvement to be driven by higher gross profit rate on lower freight costs and higher AURs on healthy inventory and lower promotions, as well as expense leverage on higher sales.
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2023 Q2
16 Sep 23
For operating margin, we expect to be in a range of 8% to 10%, compared to an adjusted operating margin of 2.4% last year.
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2023 Q2
16 Sep 23
Abercrombie brands continuing to outperform Hollister Brands
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2023 Q2
16 Sep 23
For the third quarter of 2023, we expect net sales to be up low-double-digits, compared to fiscal third quarter 2022 level of $880 million.
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2023 Q2
16 Sep 23
This is up to our previous outlook of up 2% to 4%
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2023 Q2
16 Sep 23
For the full-year, we expect net sales growth of around 10% from the 2022 level
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2023 Q2
16 Sep 23
For operating margin, we expect to be in the range of 8% to 9%, up from our previous outlook of 5% to 6% with the increase driven by higher expectations for gross profit rate expansion on higher AUR and improved expense leverage on higher sales. We contonjue to expect the net benefit from freight and cotton of approximately 250 basis points for the full-year.
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2023 Q2
16 Sep 23
Consistent with the first quarter, we drove a healthier, more profitable business with gross profit rate improvement on higher AUR and lower freight costs and significantly lower year-over-year inventory levels, down more than total company average.
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2023 Q2
16 Sep 23
W
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2023 Q2
16 Sep 23
Global traffic and conversion improved, and all the regions, channels and genders positively contributed to sales growth.
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2023 Q2
16 Sep 23
e saw balance in our Abercrombie brands grew in the second quarter, units in AUR were both positive
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2023 Q2
16 Sep 23