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Article: TEEN RETAILERS POST STRONG PROFIT GAINS.(American Eagle Outfitters )(Abercrombie & Fitch)
- Article from:
- WWD
- Article date:
- November 15, 2006
- Author:
CopyrightCOPYRIGHT 2006 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jeanine Poggi
Strong back-to-school sales as well as offering trend-right fashion propelled top- and bottom-line growth in the third quarter for teen apparel retailers American Eagle Outfitters and Abercrombie & Fitch.
American Eagle Outfitters posted a 37.6 percent surge in third-quarter earnings and announced a 3-for-2 stock split. For the three months ended Oct. 28, net income rose to $100.9 million, or 66 cents a diluted share, from $73.3 million, or 47 cents. Total sales jumped 20 percent to $696.3 million from $580.5 million in the year-ago period, while same-store sales increased 13 percent.
Results surpassed American Eagle's ...