NEW ALBANY, Ohio - Abercrombie & Fitch Co. (NYSE: ANF) has appointed Robert Ball (NYSE:BALL) as the new Chief Financial Officer, effective from last Friday. The seasoned finance executive steps into the CFO role after serving as the company's Senior Vice President of Corporate Finance, Investor Relations, and Treasury.
Ball's promotion to CFO is part of a strategic reshuffle that saw Scott Lipesky, the former CFO since 2017, ascend to the role of Chief Operating Officer in May 2023. Lipesky's COO responsibilities encompass steering the company's global operations and growth strategies, emphasizing financial discipline and efficient capital allocation.
CEO Fran Horowitz expressed confidence in Ball's abilities, highlighting his significant contribution to the company's recent transformation and turnaround. Ball's tenure at Abercrombie & Fitch spans nearly 22 years, during which he has held various leadership positions, including CFO of the Abercrombie & Fitch and abercrombie kids brands. His experience is expected to further the company's long-term growth ambitions.
Ball, who began his career at Merrill Lynch as a financial advisor, has been instrumental in evolving A&F Co.'s finance and strategy functions. His prior roles involved financial reporting, planning and analysis, and corporate finance, in addition to leading the transformation management office.
Abercrombie & Fitch Co. is a global specialty retailer offering apparel and accessories across a range of brands, such as Abercrombie & Fitch and Hollister. The company operates over 750 stores worldwide and maintains a strong digital presence through its e-commerce platforms.
This leadership change is based on a press release statement from Abercrombie & Fitch Management Co.
In other recent news, Abercrombie & Fitch posted record net sales and operating profit for the second quarter of 2024. The company's net sales increased by 21% to $1.1 billion, and it reported an operating margin of 15.5%. Abercrombie & Fitch has also raised its full-year sales and profitability forecasts, demonstrating confidence in its business strategy.
In addition, Jefferies recently updated its outlook on Abercrombie & Fitch, increasing the price target to $220 from the previous $215, while maintaining a Buy rating on the stock. The firm anticipates the company's earnings per share (EPS) will grow approximately 7% from fiscal year 2025 to fiscal year 2027, higher than the roughly 4% growth expected by the broader market consensus.
Jefferies' analysis suggests that Abercrombie & Fitch's increased productivity may lead to an expansion of the operating margin. The financial institution is modeling for Abercrombie & Fitch's EPS to rise to $11.86 by fiscal year 2027, in contrast to the consensus estimate of $11.17 among other analysts. This projection reflects a more optimistic view of the company's ability to enhance profitability and achieve growth in the coming years.
InvestingPro Insights
As Abercrombie & Fitch Co. (NYSE: ANF) welcomes Robert Ball as its new CFO, recent financial data from InvestingPro sheds light on the company's robust performance, aligning with CEO Fran Horowitz's confidence in the leadership transition.
The company's impressive financial health is evident in its strong revenue growth of 21.11% over the last twelve months, with quarterly revenue growth at 21.24% as of Q2 2025. This growth trajectory supports the company's strategic reshuffle and long-term expansion plans.
Abercrombie's profitability is noteworthy, with a gross profit margin of 64.6% and an operating income margin of 14.39%. These figures underscore the effectiveness of the company's recent transformation efforts, which Ball has been instrumental in driving.
InvestingPro Tips highlight that Abercrombie & Fitch operates with a moderate level of debt and has liquid assets exceeding short-term obligations. This financial stability provides a solid foundation for the new CFO to build upon as the company pursues its growth ambitions.
The market has responded positively to Abercrombie's performance, with the stock showing a significant return of 110.75% over the past year. This aligns with another InvestingPro Tip indicating a high return over the last year, reflecting investor confidence in the company's direction.
For readers interested in a deeper analysis, InvestingPro offers 13 additional tips for Abercrombie & Fitch, providing a comprehensive view of the company's financial landscape and market position.
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