May, Abercrombie Post 3Q Results
New Albany, Ohio, Abercrombie & Fitch Co. posted net income of $40.1 million in the third quarter, down from $50.5 million in the year-ago period. The decline came despite a 17% increase in sales to $520.7 million and same-store sales growth of 1%.
In other financial news, The May Department Stores Co. recorded net earnings of $8 million in the third quarter, down from $47 million last year. Although the retailer’s net sales were 17% higher at $3.48 billion, the merchant’s same-store sales fell 3.4%.