Abercrombie & Fitch Co. reported fiscal second-quarter net sales of about $1.27 billion to $1.3 billion, up roughly 5% year over year and extending growth to a 15th consecutive quarter, with both the Abercrombie and Hollister brands posting record second-quarter sales. Adjusted earnings per share reached $4.17 versus a FactSet consensus of about $1.99, aided by an approximately $100 million IEEPA tariff refund that added a 790-basis-point operating-margin tailwind and lifted the margin to 19.9%; operating income rose to about $253 million from $207 million a year earlier. Asia-Pacific revenue climbed 19%, Abercrombie sales rose 8% and Hollister 2%, while a June Hollister collaboration with Target in home goods exceeded internal projections. Management raised fiscal 2026 sales-growth guidance to about 5% and EPS guidance to $13.10–$13.60, lifted operating-margin guidance by 2.5 percentage points to 14.5%–15%, and has bought back $282 million of stock year to date toward a minimum $500 million plan, with about $20 million more tariff refunds expected in the third quarter. Shares surged about 35% on Wednesday to as high as $154.58 before trading down 1.20% at $145.98 on Thursday near that 52-week high, as several major Wall Street firms raised price targets on strong third-quarter momentum. U.S. retailers collectively reported more than $5 billion in similar refunds last week, including large recoveries at Walmart, Target, Home Depot and TJX.