Shares of Abercrombie & Fitch charged higher Wednesday after the apparel retailer posted fiscal first-quarter earnings that surpassed analysts’ expectations. Adjusted earnings of $1.59 a share topped the $1.

But the stock has been a perennial winner. With a 5-year annualized return of 42% and a 10-year annualized return of 16%, investors know this specialty retailer has a track record of success – and the solid report and cheap price were too good to pass up.

Warren Buffett’s track record at Berkshire Hathaway has earned him a huge following on Wall Street. Buffett recognizes that periods of economic growth and bull markets typically last longer than recessions and bear markets.