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Abercrombie & Fitch posts a fall in quarterly profit

Published 03/01/2023, 07:41 AM
Updated 03/01/2023, 07:46 AM
© Reuters. FILE PHOTO: Abercrombie & Fitch products are seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly

© Reuters. FILE PHOTO: Abercrombie & Fitch products are seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly

(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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