Abercrombie & Fitch (ANF) reports Q2 2020 surprise profit


Pedestrians are reflected in the window of an Abercrombie & Fitch store in New York.

Craig Warga | Bloomberg | Getty Images

Abercrombie & Fitch shares are soaring after the apparel retailer reported a surprise quarterly profit Thursday morning and impressive online revenue growth of 56% during the coronavirus pandemic

Its stock was recently trading up more than 9%. 

Even though overall sales were down, investors were encouraged to see that Abercrombie managed to keep its costs down, amid such rapid online growth, boosting its profitability. Typically, when a retailer’s online sales rise and store sales shrink, that comes with added expenses such as packing and shipping that weigh on…

Source cnbc.com

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