REUTERS: Abercrombie & Fitch reported better-than-expected quarterly sales on Thursday as the apparel retailer benefited from a surge in online orders during the COVID-19 pandemic.
Net income attributable to the company was US$5.5 million, or 9 cents per share, compared with a loss of US$31.1 million, or 48 cents per share, a year earlier. The year-ago quarter included flagship store exit charges of about US$45 million.Net sales fell to US$698.3 million in the second quarter ended Aug. 1, but beat the average expectation of US$658.44 million, according to Refinitiv IBES data.
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