By  on November 17, 2017

Shares of Abercrombie & Fitch Co. jumped 20.7 percent in pre-market trading after the company posted third-quarter results that beat Wall Street’s expectations.

Net income for the quarter ended Oct. 28 rose 2.8 percent to $10.1 million, or 15 cents a diluted share, from $7.9 million, or 12 cents, a year ago. On an adjusted basis, EPS was 30 cents for the quarter, compared with adjusted EPS of 2 cents in the year-ago quarter. Net sales rose 4.5 percent to $859.1 million from $821.7 million, with comparable sales gaining 4 percent. By brand, the Hollister brand saw comps gain 8 percent, while its core Abercrombie brand was down 2 percent, which was an improvement from a fall of 7 percent in comparable sales in the second quarter of fiscal 2017.

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