Teen apparel retailer Abercrombie & Fitch Co. (ANF - Get Report) rose 17.07% to $11.25 in trading Thursday after the company reported a second quarter loss that was much narrower than Wall Street expected.
Abercrombie lost 16 cents per share, 17 cents better than analysts were expecting for the quarter. Overall, revenue fell by 0.5% year over year to $779.3 million, topping estimates $758 million.
"While we expect the environment to remain challenging and promotional in the second half, we expect to see benefits from the continued improvement in product assortment, our strategic investments in marketing and omnichannel, and our ongoing efforts to optimize productivity across all channels," CEO Fran Horowitz said.
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