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Wall 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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On this episode of Stock Movers: Macy’s (M) posted better-than-expected quarterly results — a sign the department-store operator’s strategy of focusing on its best-performing locations is starting to pay off despite weakening consumer sentiment and tariff volatility.Comparable-store sales in the fiscal quarter ended May 3 fell less than analysts had anticipated, the company reported on Wednesday, while revenue of $4.6 billion in the period also …
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