Abercrombie & Fitch surges after Q1 results beat

Apparel maker Abercrombie & Fitch ANF.N up 26% at $97.18 premarket

Co tops estimates for Q1 sales and profit helped by resilient demand for its jeans and dresses

Q1 net sales of $1.10 bln beat estimates of 1.07 bln, while adjusted EPS of $1.59 also tops estimates - LSEG

Co also expects annual net sales growth between 3% and 6%, compared with prior target of 3% to 5%

Still, co lowers annual net income per share target to between $9.50 and $10.50, from $10.40 to $11.40 expected earlier

YTD, stock down 48% as of last close