Pursuits
Abercrombie Shares Rise as Third-Quarter Sales Top Estimates
- Hollister brand posts surprise increase in comparable sales
- Retailer takes cautious view of fourth quarter on mall traffic
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Abercrombie & Fitch Co. soared the most in three years after third-quarter revenue topped analysts’ estimates, helped by rebounding sales at its Hollister unit.
Revenue in the quarter was $878.6 million, the New Albany, Ohio-based company said Friday in a statement. While that was down 3.6 percent from a year earlier, it topped analysts’ $862.8 million average projection.