Tuesday, May 22, 2012
Abercrombie quarterly profit shrinks
Abercrombie & Fitch Co posted an 88 percent drop in quarterly profit on Wednesday, hurt in part by difficult market conditions in Europe. Photo: Abercrombie & FitchFor the first quarter ended April 28, the teen clothes retailer earned $3.0 million or 3 cents per share, compared with $25.1 million or 28 cents per share last year. Sales at the company, which competes with chains such as American Eagle Outfitters Inc, Aeropostale Inc and Gap Inc, rose 10 percent to $921.2 million, but sales at
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