Abercrombie & Fitch Shares Rise 32% Amid Strong Earnings Beat
Apparel company Abercrombie & Fitch (ANF) saw its stock price surge by 32 percent week-on-week following a significant earnings beat. The firm reported second-quarter fiscal year 2026 earnings per share of $4.17, far exceeding the expected $1.99. Net income rose to $250.8 million from $221.8 million in the same period last year, while net sales increased by 5 percent to $1.27 billion. UBS raised its price target for ANF to $185 and maintained a buy rating due to strong brand positioning and growth strategies. Citigroup downgraded its recommendation from buy to neutral despite positive performance at Hollister and the company's third-quarter outlook, citing that current valuations may reflect much of the anticipated upside. Institutional investors have become more cautious about ANF as hedge fund positions in the stock dropped by 20.4 percent quarter-on-quarter.
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