Abercrombie (ANF) Jumps 37% on Upbeat Revenue Outlook

We recently published 10 Stocks Boasting 10-42% Gains. Abercrombie & Fitch Co. (NYSE:ANF) is one of the best-performing stocks on Tuesday.

Abercrombie bounced back by 37.54 percent on Tuesday to finish at $90.24 apiece as investors cheered its higher revenue growth guidance in the third quarter of the year.

In an updated report on the same day, Abercrombie & Fitch Co. (NYSE:ANF) said it now sees net sales to grow between 6 and 7 percent for the full-year period, or higher than the 5 to 7 percent outlook previously.

It also maintained its guidance of 13 to 13.5 percent growth in operating margin, and earnings per share (EPS) of $10.20 to $10.50 apiece.

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In the fourth quarter alone, net sales are expected to jump by 4 to 6 percent year-on-year, with operating margin growth of around 14 percent, and EPS of $3.40 to $3.70 apiece, amid the upcoming holiday season, where consumer consumption typically increases.

“As we enter the holiday season, our global teams are energized and ready to deliver exceptional experiences for our customers across brands and regions,” Abercrombie & Fitch Co. (NYSE:ANF) CEO Fran Horowitz said.

Last quarter, Abercrombie & Fitch Co. (NYSE:ANF) dropped its attributable net income by 14 percent to $113 million from $132 million in the same period last year.

Net sales, on the other hand, grew by 7 percent to $1.29 billion from $1.21 billion year-on-year on the back of higher sales from its operations in the Americas and in Europe, the Middle East, and Africa.

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Disclosure: None. This article is originally published at Insider Monkey.