Abercrombie & Fitch shares surge nearly 20% as retailer's torrid growth shows no signs of slowing
Publishing timestamp: 2024-05-29 12:02:17
Summary
Abercrombie & Fitch reported a 22% increase in sales for the fiscal first quarter, exceeding expectations. The company's profits were nearly seven times higher than the previous year, leading to a spike in shares. Abercrombie is focusing on developing its Hollister brand and expanding into the bridal wear market. The company's international markets are also showing growth potential. Overall, Abercrombie's transformation efforts are paying off, with strong sales growth and stock performance.
Sentiment: POSITIVE
Tickers: ANF,
Keywords: earnings, breaking news: business, business, retail industry, business news, abercrombie & fitch co, china, germany, breaking news: earnings,
Source: https://www.cnbc.com/2024/05/29/abercrombie-fitch-anf-earnings-q1-2024.html