(Adds executive comment, sales details)
May 26 (Reuters) – Abercrombie & Fitch Co beat quarterly sales estimates on Wednesday, as Americans used their stimulus checks to buy more apparel and accessories following the easing of COVID-19 restrictions and vaccine rollouts.
Net sales rose to $781.4 million in the first quarter from $485.4 million a year earlier, beating analysts’ estimates of $687.4 million, according to IBES data from Refinitiv.
Sales at Abercrombie’s brand Hollister, which has partnered with TikTok influencers Charli and Dixie D’Amelio to launch the Social Tourist brand, jumped 62% in the quarter. The company’s eponymous label posted a 60% increase in sales. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Aditya Soni)
