Abercrombie & Fitch posts higher profit, shares jump

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November 15, 2012 12:14 AM EST

Shares of the company, which hired Goldman Sachs Group Inc in September to help ward off pressure from investors, jumped 21 percent to $37.75 in trading before the bell. Abercrombie & Fitch closed at $31.18 on Tuesday on the New York Stock Exchange.

The retailer expects to make about $2.85-$3.00 a share for the full year. Analysts, on average, were expecting the company to earn $2.48 a share, according to Thomson Reuters I/B/E/S.

Over the past year, Abercrombie & Fitch sales fell as the chain's style lost favor in a segment dominated by so-called fast-fashion retailers.

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Copyright 2012 Thomson Reuters. All rights reserved.

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