Abercrombie & Fitch has finally delivered some good news to the market. The preppy American fashion chain reported an 8 per cent fall in second-quarter revenue to $817.8 million, the slowest decline in four quarters, helped by better demand for dresses and jeans.
There was a further boost from its revamped Hollister brand, which enjoyed a visit from Little Mix, the British girl group at a Hollister store in California this month.
Last week the US company, yet to find a permanent chief executive after Mike Jeffries left in 2014, hired designers and executives from top rivals such as Ralph Lauren and Tommy Hilfiger to breathe new life into the Abercrombie & Fitch brand.
Shares in Abercrombie & Fitch rose by 8.2 per cent to $18.70 in afternoon trading.