Why Abercrombie & Fitch Co. Stock Skyrocketed Today

Shares of Abercrombie & Fitch (NYSE: ANF) were up 15.2% as of 1:30 p.m. EDT Thursday after the clothing retailer announced better-than-expected second-quarter 2017 results.

More specifically, Abercrombie's quarterly revenue declined 0.5% year over year to $779.3 million, including a 1% comparable-sales decline. On the bottom line, that translated to an adjusted (non-GAAP) net loss of $0.16 per share, narrowed from an adjusted loss of $0.25 per share in the corresponding year-ago period.

To be fair, this might not look like great news at first glance. But analysts, on average, were expecting a significantly larger adjusted loss, of $0.33 per share, on lower revenue, of $758.6 million.

Source: Fool.com