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Abercrombie & Fitch 4Q net income rises

Published on NewsOK Modified: February 22, 2013 at 8:15 am •  Published: February 22, 2013
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U.S. revenue rose 1 percent to $976.4 million while international revenue rose 34 percent to $492.2 million

Direct to consumer sales, including website and catalog, rose 26 percent to $266.4 million.

Revenue in stores open at least one year fell 4 percent. The measure fell 1 percent including online and catalog sales. The metric is considered an important gauge of a retailer's health, because it excludes stores that open and close during the year.

For the year under its new accounting method, net income rose 9.2 percent to $237 million, or $2.85 per share, from $143.9 million, or $1.61 cents per share. Revenue rose 8 percent to $4.51 billion from $4.16 billion.

Abercrombie expects earnings of $3.35 to $3.45 per share for the year under its new accounting method. Analysts expect $3.67 per share.

Shares fell 84 cents, or 1.7 percent, to $48.21 in premarket trading. That's still near the high end of their 52-week range of $28.64 to $54.10.