Abercrombie & Fitch Co.(NYSE:ANF) saw its shares soar in premarket trade after the company unveiled market beating third quarter results.
In a statement, the clothing company said that net income in the quarter came in at US$10.1mln, or 15 US cents per share, up from US$7.9mln or 12 US cents per share a year ago.
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Adjusted EPS was 30 US cents, coming in above the 22 US cents that the market had pencilled in.
During the quarter, revenue stood at US$859.1mln, up from the US$821.7mln recorded a year ago and far ahead of market expectations for US$820.0mln.
Similarly, same store sales rose 4% in the quarter, soundly beating analysts’ projections. The retailer’s Hollister brand rose 8% and its namesake brand saw sales fall 2%.
Abercrombie is now guiding fourth quarter same store sales in the low-single digits and sales up in the mid-to-high-single digits.
In premarket trade, its shares were up 20.88% at US$15.17.