Shares of Abercrombie & Fitch Co. (ANF) are soaring on Wednesday, propelled by the company's first quarter earnings beat on both the top and bottom lines. The apparel retailer reported revenue of $1.02 billion, surpassing analysts' estimates of $958.71 million. Abercrombie & Fitch's adjusted earnings per share (EPS) reached $2.14, above the expected $1.69.

Yahoo Finance's Executive Editor Brian Sozzi dissects the key drivers of the quarterly report.

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This post was written by Angel Smith