Why Is ANF Stock Soaring Before The Bell Today?

Abercrombie & Fitch (ANF) shares jumped nearly 19% in premarket trading on Tuesday after the apparel maker raised the lower end of its annual net sales and profit forecasts heading into the holiday season and betting on growing demand for its namesake brand as well as Hollister’s products.

“Hollister brands grew 16% on a strong finish to back-to-school and fall seasonal transition,” CEO Fran Horowitz said, adding that Abercrombie brands made sequential progress in line with the company’s expectations.

“We are tightly managing inventory as we aim for fourth quarter brand net sales to be approximately flat to last year’s record,” Horowitz said.

Abercrombie now expects net sales to grow in the range of 6% to 7% for fiscal year 2025, compared with the prior forecast of 5% to 7% rise. The company sees annual earnings per share between $10.20 and $10.50, compared to the $10.00 to $10.50 previously estimated.

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Also See: Dick’s Sporting Goods Restructures Foot Locker Business With Some Store Closures, Inventory Cleanup

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