Abercrombie & Fitch (ANF) shares soared to an all-time high Wednesday as the clothing retailer’s first-quarter results easily exceeded estimates and it raised its outlook as sales rose for 𓆉all regions and brands.

The company reported quarterly net income of $113.9 million—nearly seven times greater than a year ago—with 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.14, up from $0.32 in 2023. Revenue jumped 22% year-over-year to $1.02 billion, a first-quarter record. Profit and revenue topped forecasts. 

Sales of its Abercrombie brand climbed 31% to $571.5 million, and Hollister brand sales rose 12% to $449.2 million. They were up 23% to $820.1 million in the Americas; 19% to $164.8 million in Europe, the Middle East, and Africa; and 10% to $35.8 million in thꦑe As💮ia-Pacific region. 

Abercrombie & Fitch 'Successfully Navigated Seasonal Transitions'

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Fran Horowitz said the company “successfully navigated seasonal transitions with relevant assortme🅷nts and compelling marketing, leveraging agile chase capabilities and inventory discipline.”

Abercrombie now expects full-year sales to rise about 10% from $4.3 billion in fiscal 2023, up from its previous outlook of a 4% to 6% gain. It sees 澳洲幸运5官方开奖结果体彩网:operating margin of approx🧜imately 14% compared with the ear♛lier prediction of about 12%. 

Shares of Abercrombie & Fitch soared more than 19% to $181.68 as of 11:42 a.m. ET Wednesday after touching a record $182.86 earlier in the session. They have have more than doubled this year.