Abercrombie & Fitch quarterly profit plunges

Wed Feb 26, 2014 7:40am EST

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)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article