Abercrombie & Fitch Company stock price

Abercrombie & Fitch Company latest news:

  • 01/22/2018 06:30:01

    Abercrombie & Fitch shares jump after guidance raised

    Abercrombie & Fitch Co. shares jumped 3.7% in Monday premarket trading after the retailer raised its fourth-quarter guidance. Abercrombie & Fitch's portfolio includes the namesake chain and Hollister. It now expects same-store sales to rise in the high-single digits and sales are expected to be up in the low-teens. The previous guidance was for a low-single-digit same-store sales increase, and a mid-to-high-single-digit rise in sales. Abercrombie & Fitch expects a "significant" income tax charge largely related to a one-time repatriation tax. In addition, the retailer announced that Arthur Martinez, 78, will step down as executive chairman of the board on Feb. 3, 2018, the end of the fiscal year. He is retiring as director and will not stand for re-election at the company's annual meeting in June. Terry Burman, 72, lead independent director and chair of the nominating and board governance committee, will become non-executive chairman at that point. Both executives joined the board in January 2014. The company plans to release fourth-quarter and full-year fiscal 2017 results on March 7. Abercrombie & Fitch shares are up 67.4% for the past year, outpacing the S&P 500 index , which is up 23.7% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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