Abercrombie & Fitch Wednesday beat estimates for first-quarter sales, as its move to introduce fresh styles such as printed jeans and dresses helped in drawing more shoppers, sending shares of the apparel maker up about 26% in premarket trading.
Shares of the company were down about 48% so far this year.
Abercrombie saw an uptick in sales as consumers rushed to shop for newer collections and seasonal drops across its clothing brands, despite a broader retail slowdown.
The company posted quarterly net sales of $1.10 billion, compared with analysts' estimate of $1.07 billion, as per data compiled by LSEG.