May 16, 2008
Abercrombie profit edges up on sales increase
Teen retailer Abercrombie & Fitch said Friday that its first-quarter earnings rose 3 percent from a year ago on stronger sales.
Abercrombie said it earned $62.1 million, or 69 cents per share, in the three months ended May 3 compared with profits of $60.1 million, or 65 cents a share, a year ago.
Sales rose 8 percent to $800.1 million from $742.4 million last year.
But sales at stores open at least a year, considered a key indicator of a retailer's strength, fell 3 percent in the quarter. Read more
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