Investing.com - Abercrombie & Fitch Company (NYSE:ANF) shares were rallying on Thursday following the company’s report of a much smaller-than-expected quarterly loss and a revenue beat.
The specialty retailer lost $0.16 per share in the quarter, much better than the $0.33 loss analysts were expecting. Revenue was $779.3 million down from $783.2 million in the comparable quarter but above analysts’ forecast for revenue of $759 million.
Same-store sales fell 1%. Comparable sales were up 5% at Hollister but fell 7% at Abercrombie stores.
Commenting on the latest results, CEO Fran Horowitz stated: "While we expect the environment to remain challenging and promotional in the second half, we expect to see benefits from the continued improvement in product assortment, our strategic investments in marketing and omnichannel, and our ongoing efforts to optimize productivity across all channels.”
A&F expects comparable sales growth to be flat to slightly higher in the second half of the year.
Shares were recently up 16% at $11.12.