Shares in Abercrombie & Fitch closed almost 8% higher on Wednesday after the fashion apparel house released some strong numbers for the three months to May 1. Digital drove more than half of sales while operating income was the best since 2008.
The core brands—Hollister (including Gilly Hicks) and Abercrombie (including Abercrombie & Fitch and Abercrombie Kids)—grew by more than 60% each, pushing total company sales in the quarter to $781 million, up 61% on the same period last year. More importantly, the sales were also up 6% on Q1 2019, pre-Covid—and even higher at 18% in the company’s largest market of the U.S.
A&F also turned
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