Reported 3 days ago
Abercrombie & Fitch Co. (NYSE:ANF) saw its shares rise by 14.67% on Wednesday, closing at $88.47, driven by a positive investor outlook following a 7.5% increase in net sales for Q1, amounting to $1.097 billion, despite a challenging market. The Hollister brand performed particularly well, showing a 22% increase in sales, although Abercrombie's own sales fell by 4%. Despite a 29% drop in net income to $80.4 million, CEO Fran Horowitz noted that this figure surpassed expectations, and the company now anticipates sales growth of 3-6% for the year.
Source: YAHOO