Why Abercrombie & Fitch Stock Surged Today
Shares of Abercrombie Fitch (NYSE: ANF) rocketed 37% higher on Tuesday after the apparel retailer's fiscal third-quarter profits exceeded investors' expectations.
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Abercrombie Fitch's revenue rose 7% year over year to $1.3 billion in the quarter ended Nov. 1. The gains were driven by the exceptional performance of the company's Hollister brand, which saw same-store sales rise by a blistering 15%. That more than offset a 7% decline in the retailer's namesake Abercrombie brand's comparable sales.
Source Fool.com
