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BUZZ-Abercrombie & Fitch soars on annual profit forecast raise

Reuters
Nov 26
BUZZ-Abercrombie & Fitch soars on annual profit forecast raise

Updates

** Shares of Abercrombie & Fitch ANF.N jump as much as 31.5% to $86.31

** Company raises lower end of annual profit forecast on strong demand for Hollister apparel

** Stock set for its best day since November 2012, if gains hold

** Expects annual net income per share to be between $10.20 and $10.50 vs prior forecast of $10.00 to $10.50

** Company also beats third-quarter profit and sales estimates

** Analysts at Jefferies believe ANF has some of the easiest compares in the mall into 2026, positioning the company well from a growth & margin perspective

** Up to last close, shares down about 56% YTD

(Reporting by Anshi Sancheti and Chandni Shah in Bengaluru)

((Anshi.Sancheti@thomsonreuters.com))

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