Abercrombie & Fitch Co on Wednesday posted a surprise quarterly profit and lifted its full-year sales forecast, as the clothing retailer banks on its efforts to fill shelves with in-demand goods, sending its shares up as much as 29%.
Abercrombie & Fitch products are seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew KellyInventories fall 20%, compared to year agoon Wednesday posted a surprise quarterly profit and lifted its full-year sales forecast, as the clothing retailer banks on its efforts to fill shelves with in-demand goods, sending its shares up as much as 29%.
Consumers have been diversifying somewhat out of denims, said CEO Fran Horowitz, adding "this non-denim bottom trend that we're seeing is really terrific."
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