Abercrombie & Fitch (ANF) earnings Q2 2023

Shares of Abercrombie & Fitch soared Wednesday, after the retailer crushed Wall Street’s quarterly earnings and sales expectations and raised its forecast for the year.

On a call with investors, CEO Fran Horowitz said the retailer’s performance is the “culmination of years of hard work.” She said the company is drawing more shoppers with its wide range of fresh and fashion-forward options, from dresses to cargo pants.

“We’ve talked about it before, but we are no longer a jeans and T-shirt brand,” she said. “We certainly are a lifestyle brand today.”

And, she added, the retailer will keep opening stores and investing in its digital experience…