US EditionWall Street Holds Steady as Several Retailers Including Abercrombie Report Solid Results
- On May 28, 2025, U.S. Stocks held steady with the S&P 500 rising 0.1% while Abercrombie & Fitch reported first-quarter earnings in New York.
- The market's steadiness followed an ongoing upward trend fueled by optimism that trade tensions from President Donald Trump's tariffs may be easing.
- Abercrombie beat revenue and profit estimates with first-quarter sales up 8% to $1.10 billion and earnings per share of $1.59, despite lowering yearly profit forecasts due to $50 million in tariff impacts.
- CEO Fran Horowitz noted that the results exceeded their projections, driven by strong growth throughout all three of their regions, with Hollister brand sales rising by 22%.
- These results contributed to shares soaring 25% in premarket trading, suggesting cautious but positive investor response amid mixed retail sector signals.
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