Abercrombie & Fitch soars on annual profit forecast raise

Shares of Abercrombie & Fitch ANF.N jump as much as 31.5% to $86.31

Company raises lower end of annual profit forecast on strong demand for Hollister apparel

*Stock set for its best day since November 2012, if gains hold

Expects annual net income per share to be between $10.20 and $10.50 vs prior forecast of $10.00 to $10.50

Company also beats third-quarter profit and sales estimates

Analysts at Jefferies believe ANF has some of the easiest compares in the mall into 2026, positioning the company well from a growth & margin perspective

Up to last close, shares down about 56% YTD