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Abercrombie Soars Most in Two Years After Posting Better-Than-Forecast Sales
- Sales driven by success at Abercrombie namesake brand
- Chairman Burman to step down Jan. 28, with Travis succeeding
Abercrombie & Fitch Co. shopping bags in San Francisco, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Abercrombie & Fitch Co. reported quarterly sales and profit that exceeded Wall Street’s estimates, led by success at the flagship Abercrombie brand. The stock rose the most intraday in two years.
Net sales totaled $880.1 million in the third quarter, exceeding the average analyst estimate of $835.9 million. Sales at the Abercrombie brand rose 10%, while they fell 12% at Hollister, the company’s lower-cost brand.