Abercrombie Profit Edges Up
New Albany, Ohio Abercrombie & Fitch said Friday that its first-quarter earnings rose 3% from a year ago on stronger sales.
The company said it earned $62.1 million in the three months ended May 3 compared with profits of $60.1 million a year ago.
Sales rose 8% to $800.1 million from $742.4 million last year, while same-store sales fell 3% in the quarter.
Abercrombie last week announced that it will add a second flagship in Europe, in Copenhagen, Denmark, in 2009. Abercrombie already has a flagship in London and says it is securing locations for stores in Italy, France, Germany, Spain and Sweden. The company also plans to open a store in Tokyo in late 2009.