Abercrombie & Fitch reported quarterly sales and profit that exceeded Wall Street’s estimates, led by success at the flagship Abercrombie brand. The stock rose the most intraday in two years.
Abercrombie & Fitch Co. reported quarterly sales and profit that exceeded Wall Street’s estimates, led by success at the flagship Abercrombie brand. The stock rose the most intraday in two years.
The shares jumped as much as 21 per cent to US$22.58 in New York trading -- the most since November 2020. The stock had fallen 47 per cent this year through Monday, compared with 17 per cent for the S&P 500 Index. The New Albany, Ohio-based company also said Tuesday that Chairman Terry Burman, who’s held the role since February 2018, will step down effective Jan. 28. Board member Nigel Travis will take over the position.
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