Abercrombie & Fitch posts a fall in quarterly profit

Published: Mar 1, 2023, 12:51 UTC•1min read

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(Reuters) – Abercrombie & Fitch Co on Wednesday reported a 41.5% drop in quarterly profit, as higher labor costs and inflationary pressures squeezed margins.

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(Reuters) – Abercrombie & Fitch Co on Wednesday reported a 41.5% drop in quarterly profit, as higher labor costs and inflationary pressures squeezed margins.

The company’s net income attributable to Abercrombie fell to $38.3 million, or 75 cents per share, in the fourth quarter, from $65.5 million, or $1.12 per share, a year earlier.

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(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shailesh Kuber)

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