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Abercrombie & Fitch fiscal Q4 profit climbs YOY

Abercrombie & Fitch Co. said its normalized net income for the fiscal fourth quarter ended Jan. 30 came to $1.10 per share, compared with the S&P Capital IQ consensus estimate of 99 cents per share.

EPS climbed 6.1% year over year from $1.04.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $75.0 million, a gain from $72.7 million in the prior-year period.

The normalized profit margin fell to 6.4% from 6.5% in the year-earlier period.

Total revenue totaled $1.11 billion, compared with $1.12 billion in the year-earlier period, and total operating expenses came to $986.5 million, compared with $995.7 million in the year-earlier period.

Reported net income grew 29.7% on an annual basis to $57.6 million, or 84 cents per share, from $44.4 million, or 63 cents per share.

For the year, the company's normalized net income totaled 80 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.03.

EPS declined 37.3% from $1.28 in the prior year.

Normalized net income was $55.5 million, a decrease of 40.3% from $93.0 million in the prior year.

Full-year total revenue fell 6.0% year over year to $3.52 billion from $3.74 billion, and total operating expenses decreased year over year to $3.41 billion from $3.58 billion.

The company said reported net income declined 31.6% on an annual basis to $35.4 million, or 51 cents per share, in the full year, from $51.8 million, or 71 cents per share.