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Abercrombie & Fitch 3Q profit up, tops Street view

Associated Press Published: November 14, 2012
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Analysts surveyed by FactSet forecast 60 cents per share.

Revenue climbed 8 percent to $1.17 billion from $1.08 billion. Wall Street expected revenue of $1.11 billion.

Direct-to-consumer sales rose 20 percent to $158.3 million. The results include shipping and handling.

Overseas sales increased 37 percent to $351.1 million. Sales in the U.S. were about flat at $818.6 million. The international and U.S. performances include direct-to-consumer sales.

Revenue at stores open at least a year, a key indicator of a retailer's health, fell 3 percent. The figure dropped 4 percent for the Abercrombie & Fitch brand, 3 percent for abercrombie kids and 1 percent for Hollister Co.

Revenue at stores open at least a year excludes results from stores recently opened or closed.

For the year, Abercrombie & Fitch now anticipates earnings of about $2.85 to $3 per share. Its prior guidance was for earnings between $2.50 and $2.75 per share. Analysts expected earnings of $2.49 per share.

The company said its revised outlook assumes a mid-single digit percentage decline in fourth-quarter revenue at stores open at least a year.

Abercrombie & Fitch had 1,067 stores at quarter's end.