Abercrombie & Fitch posts surprise rise in same-store sales
- 8 years ago
Teen apparel retailer Abercrombie & Fitch Co posted a surprise rise in sales in the holiday-shopping quarter, snapping a streak of more than three years of declines, due to strong demand for its Hollister branded clothing.
The retailer's results on Wednesday showed its efforts to revive sales growth by revamping merchandise and improving shoppers' in-store experience were paying off, and sent its shares up nearly 9 percent to $31.96 in premarket trading.
"They (results) are a sign that the brand continues to make progress in what remains a challenging market during a particularly difficult period of trading," said Neil Saunders, chief executive of research firm Conlumino.
The retailer's results on Wednesday showed its efforts to revive sales growth by revamping merchandise and improving shoppers' in-store experience were paying off, and sent its shares up nearly 9 percent to $31.96 in premarket trading.
"They (results) are a sign that the brand continues to make progress in what remains a challenging market during a particularly difficult period of trading," said Neil Saunders, chief executive of research firm Conlumino.