Abercrombie & Fitch (ANF)

Abercrombie & Fitch Friday today reported third quarter net income of $38.8 million, or $0.44, compared to net income of $63.9 million, or $0.72 for the comparable period last year. Excluding $6.2 million of after-tax charges associated with the closure of the Ruehl business and an $18.6 million benefit associated with a true up of the year-to-date tax rate, the Company reported non-GAAP net income of $26.3 million, or $0.30, for Q3. Sales decreased 15% to $765.4 million; comparable store sales decreased 22%.
Profits were higher than expected.

Nov 13 · 11:29:00 AM · Source: Company News Release
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by Larry Etter