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Abercrombie & Fitch fiscal Q4 profit falls 7.8% YOY

Abercrombie & Fitch Co. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to $1.25 per share, compared with the S&P Capital IQ consensus estimate of $1.16 per share.

EPS increased year over year from $1.23.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $87.6 million, a decrease of 7.8% from $95.0 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin dropped to 6.5% from 7.3% in the year-earlier period.

Total revenue fell 13.8% year over year to $1.12 billion from $1.30 billion, and total operating expenses declined 15.3% on an annual basis to $971.8 million from $1.15 billion.

Reported net income declined 32.6% from the prior-year period to $44.4 million, or 63 cents per share, from $65.9 million, or 85 cents per share.

For the year, the company's normalized net income totaled $1.43 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.59.

EPS declined 12.7% from $1.64 in the prior year.

Normalized net income was $104.4 million, a fall of 19.0% from $129.0 million in the prior year.

Full-year total revenue decreased 9.1% on an annual basis to $3.74 billion from $4.12 billion, and total operating expenses fell 8.8% on an annual basis to $3.56 billion from $3.91 billion.

The company said reported net income decreased on an annual basis to $51.8 million, or 71 cents per share, in the full year, from $54.3 million, or 69 cents per share.