Pursuits
Abercrombie Shares Rise on Profit, Accelerated Buyback
This article is for subscribers only.
Abercrombie & Fitch Co. rose the most in more than a month after posting fourth-quarter profit that topped analysts’ estimates and saying it would buy back $150 million in shares in the current quarter.
The stock climbed 11 percent to $40.04 at the close in New York. Shares of the New Albany, Ohio-based company have gained 22 percent this year, compared with a 0.2 percent drop for the Standard & Poor’s 500 Index.