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Abercrombie & Fitch shares soar 15% as retailer blows past earnings estimates, raises guidance

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Abercrombie & Fitch has posted strong sales, even as other retailers see a weaker and choosier consumer.

Shares of Abercrombie & Fitch soared in premarket trading, after the retailer crushed Wall Street's earnings and sales expectations.Getty Imagessoared in premarket trading, after the retailer crushed Wall Street's earnings and sales expectations for the quarter and raised its forecast for the year.

She added the retailer will keep opening stores and investing in its digital experience — even as the economic backdrop remains uncertain. It said it expects operating margins to improve, too, as costs of freight and raw materials fall. It anticipates operating margins to be in the range of 8% to 9%, compared with prior expectations of 5% to 6%.

 

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