Short Tips: : Abercrombie & Fitch earnings top estimates and retailer raises guidance, but stock still falls

Short Tips:

Abercrombie & Fitch Co. ANF posted better-than-expected third-quarter earnings on Tuesday and raised its guidance, after a strong back-to-school season for its Hollister brand. The New Albany, Ohio-based retailer posted net income of $96.2 million, or $1.83 a share, for the quarter, after a loss of $2.2 million, or 4 cents a share, in the year-earlier period. Adjusted per-share earnings also came to $1.83, well ahead of the $1.18 FactSet consensus. Sales rose to $1.06 billion from $880 million a year ago, ahead of the $981 million FactSet consensus. Same-store sales rose 16%. “Net sales growth of 20% accelerated from…