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Abercombie Sales, Net Rise
ABercrombie & Fitch Co.'s fourth-quarter income more than tripled on improving net sales, boosted by its international direct-to-consumer business.
The New Albany, Ohio-based teen retailer on Friday posted a profit of $157.2 million, or $1.95 a diluted share, for the three months ended Feb. 2, compared with income of $45.8 million, or 52 cents, a year ago. The year-ago period included 50 cents a share in asset-impairment charges and other one-time expenses. Excluding charges related to an inventory accounting change, write-downs and other items, earnings totaled $2.21, up from $1.12, the retailer said.
Fourth-quarter sales increased 10.5 percent to $1.47 billion from $1.33 billion a year ago. The company said comparable sales were flat for the quarter, with retail comps down 1 percent and comps at the direct-to-consumer channel up 5 percent. On the international front, comp...