Why Abercrombie & Fitch Stock Exploded Higher Today

Shares of Abercrombie & Fitch (NYSE: ANF) were looking dapper today as the preppy clothier jumped on a strong earnings report. Same-store sales rose 4% in the quarter, leading to significantly better results than expected. As of 12:58 p.m. EST, the stock was up 25.1%.

Image source: Abercrombie & Fitch.

Overall revenue was up 5% to $859.1 million, which was much better than expectations of $820 million. Performance at Hollister was impressive once again, with comparable sales up 8%, while comps dipped 2% at namesake Abercrombie & Fitch stores. Domestic results were also solid, with same-store sales up 6% compared to flat growth abroad.

Source: Fool.com