00:00 It's Benzinga and here's what's on the block.
00:02 Abercrombie & Fitch CEO Fran Horwitz wants to capitalize on the success of the company's
00:07 women's wedding attire business by launching a new men's suit collection.
00:10 The company's first quarter same-store sales rose by double digits for both its Abercrombie
00:15 and Hollister brands, beating analyst estimates. Profit margins also expanded significantly.
00:20 Analysts were impressed with Abercrombie & Fitch's ability to sell products at full price
00:24 and control inventory in the current retail environment.
00:27 The company plans to open more stores in the U.S. by the end of the year and ramp up growth
00:31 initiatives in international markets like Germany and the U.K. Shares of Abercrombie & Fitch jumped
00:36 22% on the report. For all things money visit Benzinga.com
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