Abercrombie Raises Full-Year Sales Forecast
The retailer said demand stayed resilient as Abercrombie brand sales rose 8% and Hollister sales rose 2%, while annual EPS guidance increased to $13.10-$13.60.
- On Wednesday, Abercrombie & Fitch stock surged 37% to $148.91 after the retailer reported second-quarter earnings of $4.17 per share, significantly beating Wall Street's $1.99 estimate and raising full-year guidance.
- The company's results were bolstered by a $100 million tariff refund stemming from a Supreme Court ruling that tariffs enacted under the International Emergency Economic Powers Act were illegal, contributing $1.75 per diluted share.
- Net sales rose 5% to $1.3 billion in the second quarter, with the Abercrombie brand delivering 8% growth and Hollister up 2%, marking the retailer's 15th consecutive quarter of growth.
- While peers Ross Stores and Kohl's also reported tariff-related windfalls, Abercrombie shares jumped significantly higher, reflecting investor confidence in the company's underlying operational improvement despite flat companywide comparable sales.
- Management raised its full-year earnings forecast to $13.10 to $13.60 per share from $10.20 to $11, and the company expects an additional $20 million in tariff refunds for the third quarter.
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After yet another record quarter, Abercrombie & Fitch is raising its outlook for the full fiscal year. The American fashion group is benefiting from growth at both of its brands, as well as a substantial refund of previously paid import duties.
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Abercrombie & Fitch Soars 37% on a $100M Tariff Refund and Raised Guidance, Ross and Kohl's Hold Steady
A $100 million tariff refund sent Abercrombie surging in a single session while the same catalyst left Kohl's nearly unchanged and Ross investors shrugging. The gap between those reactions reveals something more important than the windfall itself.
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