Abercrombie and Fitch Co (ANF)

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Abercrombie Posts 15% Rise in Net
By Donna Kardos
Word Count: 451 | Companies Featured in This Article: Abercrombie & Fitch, American Eagle Outfitters

Abercrombie & Fitch Co. posted a 15% rise in fiscal third-quarter net income, boosted by strong sales at Hollister and as its higher initial markup rate and lower shrink rate helped it avoid the sluggish sales other weather-sensitive teen retailers have seen.

For the quarter ended Oct. 28, the New Albany, Ohio-based company posted net income of $117.6 million, or $1.29 a share, up from $102 million, or $1.11 a share, last year.

Net sales rose 13% to $973.9 million from $863.4 million, as comparable-store sales were up 1%. A Thomson ...