Abercrombie & Fitch report rise in profits
November 15 , 2012
Abercrombie and Fitch reported a surprise rise in profits on Wednesday leading the U.S. fashion retailer to raise its full-year profit target.
Abercrombie made $72 million net income in the 13 weeks to October 27, up from $51 million a year ago. The rise comes on the back of strong overseas sales.
U.S. sales were unchanged from a year ago but international sales increased 37 percent.
Abercrombie said it now expects to make profits for the year of $2.85 to $3.00 per share, compared with earlier market expectations of about $2.48.