Abercrombie & Fitch’s fiscal second-quarter sales slowed, with its namesake brand down 5% and comparable sales falling 11% from last year’s surge, according to CNBC. The clothing company narrowly beat Wall Street expectations with adjusted earnings of $2.32 per share on $1.21 billion in revenue. Hollister’s record 19% growth drove Abercrombie & Fitch’s overall sales up 7% in the quarter, with companywide comparable sales rising 3%. Abercrombie raised the lower end of its full-year earnings outlook to $10.00 to $10.50 per share from its prior $9.50 to $10.50 range. Abercrombie now expects $90 million in net tariff costs for the year, an increase from its earlier forecast of up to $50 million after mitigation. Shares slipped in afternoon trading on Wednesday.
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