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Abercrombie and Fitch profit surges in Q3, raises outlook
Columbus, Ohio -- Abercrombie and Fitch reported Wednesday net income of $71.5 million for the third quarter, compared with $50.9 million in the year-ago period and beating Wall Street expectations. The retailer is forecasting annual earnings above analysts’ estimates.
Revenue rose 9% to $1.17 billion, boosted by a 37% rise in international sales. Same-store sales dipped 3%. -
Saks reports Q3 profit growth
New York -- Saks Inc. reported Tuesday that net income for the third quarter climbed 27.2% to $22.6 million, compared with $17.8 million in the same period last year. Results surpassed analysts’ expectations.
Revenue edged up 3% to $713.2 million, widely missing Wall Street’s expected $762.6 million in revenue. Same-store sales rose 3.3%.