Abercrombie & Fitch Co. (NYSE:ANF) stock is soaring as the company posted its third-quarter results.
The company’s earnings were better than expected at 48 cent a share on $878.6 million in revenue. The Wall Street estimate expected Abercrombie to post 22 cents a share on revenue of $863 million.
In the same period the year prior, the company earned 42 cents a share on $911.5 million in revenue. Firing former CEO Mike Jefferies has been a good move so far for the company.
Abercrombie attributed its third quarter success to a new set of initiatives that are working for the company, such as having fewer discounted items on sale.
ANF stock is up 27.3% Friday.
