**Abercrombie & Fitch Shares Soar After Boosting Outlook**
Shares of Abercrombie & Fitch Co. (NYSE: ANF) soared on Thursday after the teen apparel retailer raised its full-year guidance on the back of strong demand for its products.
**Key Highlights:**
* Abercrombie & Fitch now expects fiscal 2023 net sales to be in the range of $3.7 billion to $3.75 billion, up from its previous forecast of $3.65 billion to $3.7 billion.
* Comparable sales are projected to increase by 2%-3% in the full year, compared to the prior guidance of flat to up 2%.
* Diluted earnings per share are anticipated to be in the range of $2.50 to $2.60, above the previous estimate of $2.35 to $2.45.
**Strong Performance Continues:**
The upward revision in guidance reflects the company’s continued strong performance in recent quarters. In the third quarter of fiscal 2023, Abercrombie & Fitch reported a 1% increase in comparable sales and a 21% surge in net sales to $901.3 million.
**Strategic Initiatives Pay Off:**
The company’s initiatives, including store renovations, new product launches, and enhanced omnichannel capabilities, have contributed to its improved financial performance. Abercrombie & Fitch has also benefited from increased demand for its casual and athleisure wear.
**Analyst Optimism:**
Analysts have reacted positively to the raised guidance. Cowen analyst John Kernan reiterated an .
