Abercrombie & Fitch Co.'s fourth-quarter income more than tripled on improving net sales, boosted by its international direct-to-consumer business.
The New Albany, Ohio-based teen retailer on Friday posted a profit of $157.2 million, or $1.95 a diluted share, for the three months ended Feb. 2, compared with income of $45.8 million, or 52 cents, a year ago. The year-ago period included 50 cents a share in asset-impairment charges and other one-time expenses. Excluding charges related to an inventory accounting change, write-downs and other items, earnings totaled $2.21, up from $1.12, the retailer said.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"