Abercrombie & Fitch (NYSE: ANF), a specialty retailer selling casual clothing and footwear, fell around 5% on Tuesday, 26th November, as compared to a 0.6% increase

Abercrombie & Fitch topped third-quarter earnings estimates, raised guidance for the full year, and appointed a new chief financial officer. But the stock was falling in premarket trading as sales growth showed signs of gradually decelerating.

(Reuters) -Abercrombie & Fitch lifted its annual sales forecast on Tuesday, betting on strong demand at its namesake label and its teen-focused Hollister brand. The company also named insider Robert Ball as chief financial officer. Its shares were down about 4% in premarket trading.

Abercrombie & Fitch ( NYSE: ANF) enjoyed another quarter of double-digit sales growth as the strength of the Abercrombie and Hollister brands coupled with consistent demand for its denim merchandise translated into increased profits and an upbeat outlook for the remainder of the year.

Abercrombie & Fitch isn’t giving up its crown anytime soon. The apparel company issued strong holiday guidance on Tuesday after posting its sixth straight quarter of double-digit sales growth and another quarter of results that topped expectations.

Abercrombie & Fitch lifted its annual sales forecast on Tuesday, betting on strong demand at its namesake label and its teen-focused Hollister brand during the crucial holiday shopping season. The company has doubled down on refreshing its product lines across denims,