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Abercrombie & Fitch report rise in profits

  • 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.