Low-rise jean-wearers, you’ve been right all along. Not only has the style returned from its two-decade slumber, but so, too, has one of its most storied purveyors.
Abercrombie & Fitch, the clothing retailer beloved in the 1990s and early 2000s, put an emphatic stamp on its comeback, posting its best first quarter in company history. The company reported $1 billion in net sales, a 22% leap from last year, far exceeding expectations. Sister brand Hollister saw a 12% growth in comparable sales, and Abercrombie’s shares were up over 20% to $187 on Wednesday.
