Abercrombie & Fitch Holding Gains After Q2 Beat

Abercrombie & Fitch Co. ANF shares are trading higher by $1.39, or 14 percent, at $11.00 in Thursday's session.

The catalyst for the rally in the decimated retailer is a Q2 EPS beat of 17 cents along with a sales beat of $23 million. Although Q2 comps were down 1 percent, the company forecasts FY 2017 comps to be flat.

After a high open, the stock had a brief retreat to $10.56 before continuing its move higher. The ensuing rally took the stock to $11.48 but has fallen back to the $11.00 area.

That marks the highest level for Abercrombie since July 7, when it peaked at $12.38 and ended the session at $12.16. The following day it swooned to $9.59 following the termination of discussions for the company to be acquired.