Abercrombie & Fitch is going nuts after crushing earnings

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Abercrombie
& Fitch surged more than 25% early Thursday after
reporting strong third-quarter results. 

The teen retailer earned an adjusted $0.33 a share on revenue on
revenue of $861.2 million, easily beating the $0.21 and $853
million that analysts surveyed by Bloomberg were expecting.
Same-store sales jumped 3% versus a year ago, outpacing the 1.7%
gain that Wall Street was looking for. Abercrombie said that both
its flagship business and its Hollister brand had solid quarters.

“We are pleased with our third quarter performance, our fifth
consecutive quarter of positive comparable sales, with growth
across both of our brands,” CEO Fran Horowitz said in the

earnings release.

“Our strong U.S omnichannel business, and 16% global digital
sales growth, confirm that our playbooks are working.”

Looking ahead, Abercrombie maintained its fiscal year 2018
same-store sales forecast of between 2% and 4%, and said that it
expects to close 40 stores by year-end — down from its previous
estimate of up to 60. 

Abercrombie was down 3.28% this year through Wednesday, trading
at $17.12 a share. 

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