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Abercrombie & Fitch Reports Surprise Profit, Raises Sales Forecast

Abercrombie & Fitch Co. on Wednesday posted a surprise quarterly profit and lifted its full-year sales forecast, as the clothing retailer banks on its efforts to fill shelves with in-demand goods, sending its shares up as much as 29 percent.
The apparel retailer has worked to increase its stock across all its labels and lure affluent Americans to purchase for a variety of items including dresses, cargos, and formal pants as people return to social gatherings and office work.
Consumers have been diversifying somewhat out of denims, said CEO Fran Horowitz, adding “this non-denim bottom trend that we’re seeing is really terrific.”…

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