Jefferson City, MO 71° View Live Radar Fri H 83° L 70° Sat H 84° L 69° Sun H 86° L 69° Weather Sponsored By:

Abercrombie & Fitch 3rd-quarter net income jumps

Abercrombie & Fitch 3rd-quarter net income jumps

November 16th, 2010 in News

NEW ALBANY, Ohio (AP) - Abercrombie & Fitch says higher international revenue and improving results in the U.S. helped its third-quarter net income rise 29 percent.

The teen clothing seller says net income for the quarter is up to $50 million, or 56 cents per share. That compares to $38.8 million, or 44 cents per share, last year and is higher than the 51 cents per share analysts expected.

Abercrombie & Fitch Co. says revenue is up nearly 18 percent to $885.8 million. Analysts expected revenue of $879.5 million.

Revenue in stores open at least on year rose 7 percent. The figure is a key measure of a retailer's health.

U.S. revenue rose 8 percent to $721.7 million and international revenue rose 87 percent to $164.1 million.

The preppy New Albany, Ohio, retailer has cut prices to compete with lower-priced rivals.