Abercrombie & Fitch jumps after upbeat sales forecast, Q2 beat

Shares of apparel retailer Abercrombie & Fitch ANF.N were up 11% at $121.20 in premarket trading after the company raised its full-year sales forecast as demand for its apparel brands remained resilient.

The company now expects full-year net sales to grow 5%, compared with its earlier forecast of 3% to 5%. It also forecast annual earnings per share of $13.10 to $13.60, up from $10.20 to $11 previously.

Abercrombie & Fitch reported second-quarter revenue of $1.27 billion, slightly above analysts' expectations of $1.25 billion, according to data compiled by LSEG.

The company reported adjusted EPS of $2.32, compared with an estimate of $1.99.

As of the last close, the stock was down 13.5% year to date.