Abercrombie Raises Forecasts as Shares Jump
Abercrombie and Fitch raised its full-year sales and profit forecasts after reporting a strong quarterly profit that beat analyst estimates. Robust apparel demand and back-to-school momentum lifted shares over 22 percent.
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ABERCROMBIE & FITCH CO-CL A raised full-year sales and profit forecasts on Wednesday after posting strong quarterly results that sent shares jumping 22% in morning trading. The apparel retailer beat analyst expectations as robust demand for its namesake brand offset regional weakness.
