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 NEW ALBANY, Ohio (AP) - Abercrombie & Fitch Co. said Wednesday that its fourth-quarter earnings jumped 20 percent, powered by strong sales as the teen retailer continues to expand its Hollister line of stores that cater to teens with surfer-inspired looks.
But the company said its earnings for the first half of this fiscal year would match or come in slightly below Wall Street estimates. Abercrombie shares slid about 3.6 percent in after-hours trading.
Abercrombie said it made $198.2 million, or $2.14 per share, for the quarter ended Feb. 3 compared with profits of $164.6 million, or $1.80 per share, a year ago. Sales rose 18 percent to $1.14 billion from $960.4 million a year ago. Sales at stores open at least a year, considered a key indicator of a retailer's health, fell 3 percent after jumping 28 percent a year ago.
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