Abercrombie & Fitch is up more than 2% today after saying it plans to double its sales in four years.It also raised its earnings outlook for next year to $4.75 per share.
CFO Jonathan Ramsden said the company projects sales of $7.5 billion in 2015 that will be split between its U.S. stores and international stores. The company has already started an aggressive global push of its brand and will open outlets in Paris, Madrid, Singapore, Brussels and Dusseldorf this year.
U.S. and international Direct-to-consumer sales could put another $1 billion on top of that projection.
It also expects to see improvement in margins in the U.S.
Many retail stocks are up today boosted by the Abercrombie outlook as well as by upgrades given to Urban Outfitters and Zumiez by Piper Jaffray.