Abercrombie & Fitch Profits Fall Sharply

  • May 16, 2012

Teen retailer Abercrombie & Fitch says its net income for the first quarter sank to $3 million, compared with $25.1 million in the same period last year, stung by “a very difficult macroeconomic environment” in Europe. Net sales for the quarter rose to $921.2 million, compared with $836.7 million last year. Its total comparable store sales for the quarter decreased 5%, with sales falling 4% for Abercrombie & Fitch, 11% for abercrombie kids, and 5% for Hollister Co.

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