Abercrombie & Fitch (NYSE:ANF) shares are rocketing on Wednesday after the company witnessed best-ever brand sales in the second quarter.
The second-quarter performance combined with the tariff refund led to one of the best trading days in Abercrombie’s history, with the stock going as high as 50% at its peak for Wednesday.
Both Abercrombie and Hollister posted record sales, with Abercrombie revenue up 8% and comparable sales up 4%.
Hollister sales rose 2% and comparable sales declined 3%; growth came across regions and genders, led by knits, shorts and non-denim bottoms.
Also, Hollister’s Target partnership exceeded expectations, with products now available at more than 1,500 Target stores.
