USA: Cost Cuts Push Abercrombie Up 3 Per Cent
Keeping a tight control over inventory and expenses in a weak economy has helped youth-oriented retailer Abercrombie & Fitch grow its fourth-quarter earnings by 3 per cent The said its net income for the quarter ended 2 February beat analysts' expectations at $79.2 million, or 78 cents per share, compared to $77.2 million, or 76 cents per share in the same period last year. Analysts had expected the company to earn 72 cents per share, according to First Call/Thomson Financial.
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