Additional stores boost Abercrombie earnings
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From Bloomberg News
Abercrombie & Fitch Co., a casual clothing retailer, said fourth-quarter profit rose 20% as the company opened more stores.
Net income rose to $198.2 million, or $2.14 a share, from $164.6 million, or $1.80, a year earlier, the New Albany, Ohio- based company said. Sales rose 18% to $1.14 billion, but sales at stores open at least a year fell 3% after warm weather hurt sales of winter clothing.
Shares of Abercrombie fell 64 cents to $82.
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