Abercrombie & Fitch quarterly profit plunges
Feb 26 (Reuters) - Teen apparel retailer Abercrombie & Fitch Co reported a 58 percent fall in quarterly profit as it struggles to keep up with the tastes of young shoppers.
Abercrombie's net income fell to $66.1 million, or 85 cents per share, for the fourth quarter ended Feb. 1 from $157.2 million, or $1.95 per share, a year earlier.
Excluding restructuring and other charges, the company earned of $1.34 per share.
Revenue fell 12 percent to $1.30 billion. (Reporting by Aditi Shrivastava; Editing by Kirti Pandey and Joyjeet Das)
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |