Abercrombie & Fitch Co. (ANF: Quote) reported third-quarter net income of $71.5 million and net income per share of $0.87 for the thirteen weeks ended October 27, 2012, compared to net income of $50.9 million and net income per share of $0.57 for the thirteen weeks ended October 29, 2011.
Net sales for the thirteen weeks ended October 27, 2012 increased 9% to $1.170 billion from $1.076 billion for the thirteen weeks ended October 29, 2011. Total comparable store sales for the quarter decreased 3%.
Analysts polled by Thomson Reuters expected the company to report profit of $0.59 per share on revenue of $1.11 billion for the quarter. Analysts' estimates typically exclude special items.
The company is now projecting full year earnings per share of approximately $2.85 to $3.00. Analysts expect the company to report 2012 profit per share of $2.48.
On November 13, 2012, the Board of Directors declared a quarterly cash dividend of $0.175 per share on the Class A Common Stock of Abercrombie & Fitch Co. payable on December 11, 2012 to shareholders of record at the close of business on November 26, 2012.
by RTT Staff Writer
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