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Abercrombie & Fitch shares rise as the teen retailer posts 4Q sales and earnings beats

The Ohio-based group was also upbeat on the year to come
An Abercrombie & Fitch Co store
The Ohio-based group was also upbeat on sales for the 2019 year to come

Abercrombie & Fitch Co (NYSE:ANF) saw shares fly in pre-market trading as the casual fashion retailer posted a profit and sales beat in its fourth quarter.

The Ohio-based group was also upbeat on the year to come.

Shares in New York rose almost 12% to $23.99 ahead of the opening bell.

READ: Abercrombie & Fitch narrows its net loss in the fiscal first quarter, helped by Hollister sales

It reported earnings of $1.35 per share in the quarter, which smashed analyst estimates of $1.15. That was on revenue of $1.2 billion compared with a consensus estimate of $1.13 billion.

The company's Hollister brand saw sales rise 1% to $712.9 million, beating consensus of $690.9 million.

Meanwhile, at Abercrombie, sales fell to $442.7 million, missing expectations on Wall Street of $446 million.

For its 2019 year, the company expects sales to rise 2% to 4%, while the current consensus of $3.61 billion implies growth of 0.5%.

Contact Giles at [email protected]

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