Consumer

Abercrombie Shares Soar After Boosting Full-Year Outlook

Apparel retailer sees double-digit net sales growth this year
Sales at Abercrombie, Hollister brands grew in second quarter

LONDON - MARCH 22: Shoppers leave the Abercrombie & Fitch UK Flagship Store on Savile Row on March 22, 2007 in London, England. The store opened its doors today and is the labels first London branch. (Photo by Gareth Cattermole/Getty Images)Photographer: Gareth Cattermole/Getty Images

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By Olivia Rockeman and Jeannette Neumann

August 23, 2023 at 11:54 AM UTC

Updated on

August 23, 2023 at 1:58 PM UTC

This article is for subscribers only.

Abercrombie & Fitch Co. soared after hiking its full-year guidance, a sign that some teens and young millennials are still eager to spend if the styles and price are right.

The bullish outlook also shows that the company’s Abercrombie & Fitch brand, a darling of young shoppers about a decade ago, is fashionable once again. The brand on Wednesday reported its highest-second quarter sales since 2011, executives said, and the 10th consecutive quarter of revenue growth.