Fashion United: Abercrombie & Fitch Co. reported unaudited results which reflected net income of $50.9 million and net income per diluted share of $0.57 for the thirteen weeks ended October 29, 2011, lower than expected y market, what sent its shares down by nearly 11%. "While our results for the third quarter were impacted by costing challenges combined with greater uncertainty in the macro economic environment, we remain very
confident in our strategy, the underlying strength of our brands and our ability to create long-term shareholder value. Our focus remains on execution against our long-term strategy and roadmap objectives,” advanced Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co. But its earnings were short of Wall Street expectations. Third-quarter profit rose slightly, reaching $50.9 million, or 57 cents a share, from $50 million, or 56 cents, earned in the same period a year earlier. Analysts had expected profit of 70 cents a share, according to the consensus of estimates as compiled by FactSet Research. Therefore, its shares tumbled almost 11 per cent in premarket trading, or $5.92 to $49.78. The stock is down 3 per cent since the beginning of the year. Meanwhile, the shares lately fell 13% to $48.68 while American Eagle Outfitters Inc. summed up 3.59% and Aeropostale Inc. added 3.4%.
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Fashion United: Abercrombie & Fitch Co. reported unaudited results which reflected net income of $50.9 million and net income per diluted share of $0.57 for the thirteen weeks ended October 29, 2011, lower than expected y market, what sent its shares down by nearly 11%. "While our results for the third quarter were impacted by costing challenges combined with greater uncertainty in the macro economic environment, we remain very