News Formal

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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

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%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Abercrombie & Fitch’s stock soars 16% after earnings trounce estimates and company raises guidanceAbercrombie & Fitch Co.’s stock soared 16% in premarket trade Wednesday, after the teen clothing retailer blew past estimates for the second quarter and...
Source: MarketWatch - 🏆 3. / 97 Read more »