By  on November 13, 2009

Abercrombie & Fitch Co. saw its shares soar more than 10 percent Friday as a 39.3 percent decline in third-quarter profits still left it comfortably ahead of Wall Street estimates.

The New Albany, Ohio-based firm said for the three months ended Oct. 31, net income slid to $38.8 million, or 44 cents a diluted share, from $63.9 million, or 72 cents, in the year-ago quarter. Excluding extraordinary items, the company earned 30 cents a share in the most recent quarter, well ahead of the 20 cent profit consensus provided by Yahoo Finance.

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