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Abercrombie & Fitch fiscal Q3 profit falls 18.6% YOY

Abercrombie & Fitch Co. said its normalized net income for the fiscal third quarter ended Nov. 1 was 37 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS fell 13.8% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.9 million, a decline of 18.6% from $33.0 million in the prior-year period.

The normalized profit margin fell to 3.0% from 3.2% in the year-earlier period.

Total revenue fell 11.8% year over year to $911.5 million from $1.03 billion, and total operating expenses fell 11.7% on an annual basis to $863.8 million from $978.0 million.

Reported net income totaled $18.0 million, or 25 cents per share, compared to a loss of $15.3 million, or a loss of 20 cents per share, in the year-earlier period.