**Abercrombie & Fitch Shares Soar After Boosting Full-Year Outlook**
**New York, Dec. 1, 2022** – Abercrombie & Fitch Co. (NYSE: ANF) shares surged in after-hours trading on Thursday after the apparel retailer raised its full-year outlook, citing strong demand for its products and effective cost management.
**Key Highlights:**
* **Revenue:** Abercrombie & Fitch now expects full-year revenue to be in the range of $3.94 billion to $3.97 billion, up from its previous guidance of $3.85 billion to $3.95 billion.
* **Comparable Sales:** The company anticipates comparable sales growth of approximately 3% to 4% for the full year, compared to its earlier forecast of 2% to 3%.
* **Earnings Per Share:** Abercrombie & Fitch raised its earnings per share guidance to $4.30 to $4.40, a significant increase from its previous estimate of $3.75 to $3.90.
**Analysis:**
Abercrombie & Fitch’s revised outlook reflects the continued strength of its turnaround strategy, which has focused on improving product quality, enhancing customer experience, and optimizing inventory management.
The company’s efforts to refresh its brand and attract younger consumers have been particularly successful. Its recent collaborations with influential personalities, such as TikTok star Charli D’Amelio, have helped to drive brand awareness and sales among Gen Z shoppers.
Additionally, Abercrombie & Fitch has benefited from a rebound in consumer spending as the global economy recovers from the COVID-19 pandemic. The company’s products, which include casual wear, activewear, and accessories, have resonated with consumers seeking comfortable and stylish clothing.
**Market Reaction:**
Following the announcement, Abercrombie & Fitch shares jumped by more than 10% in extended trading. Investors were encouraged by the company’s strong performance and its optimistic outlook for the future.
Analysts have also reacted positively to the news. Cowen & Co. analyst Oliver Chen raised his price target on the stock to $38, citing the company’s .
