Reported 4 months ago
Abercrombie & Fitch Co. shares soared as the retailer exceeded first-quarter sales expectations and continued its revival from the '90s fashion era. The stock rose by 24% with revenue hitting $1 billion, marking a six-quarter growth streak. CEO Fran Horowitz mentioned the company no longer heavily relies on high discounts but focuses on customer satisfaction. With sales boosted by women's dresses and new denim trends, the brand expects net sales to increase by 10% for the year, contrasting with competitor VF Corp.'s ongoing declining sales.
Source: YAHOO