00:00It's Benzinga bringing Wall Street to Main Street American Eagle Outfitters shares rose more than
00:045% Wednesday after Abercrombie and Fitch reported stronger than expected second quarter results
00:10and raised its full-year outlook, according to Benzinga. Abercrombie posted adjusted earnings
00:16of $4.17 per share, well above Wall Street's $1.99 estimate, on record net sales of $1.27
00:25billion. The retailer raised its full-year earnings outlook to $13.10 to $13.60 per share,
00:33from $10.20 to $11, and increased its sales forecast to $5.529 billion. Strong demand at Abercrombie
00:42and resilient consumer spending reassured investors that apparel demand remains durable despite broader
00:48consumer pressures. CEO Fran Horowitz said demand exceeded inventory at points during the quarter.
00:54Shares were up by 5.98% at $17.73 in Thursday's pre-market trading, according to data from
01:02Benzinga Pro. For all things money, visit Benzinga.com.
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