Abercrombie bullish on outlook

Shares in clothing retailer Abercrombie and Fitch rose up to 11 per cent yesterday as the company provided an optimistic fiscal 2011 outlook in an analyst meeting. Abercrombie also revealed that it expects to achieve the annual sales goal of $7.5bn (£4.6bn) by 2015. The firm said that Hollister stores in Europe have continued to deliver strong sales and it plans to add another 40 new Hollister stores. It is also planning to open 10 Abercrombie & Fitch stores abroad this year and another ten next year, including in Paris next month.