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A&F Net Falls 4.2 Percent

Abercrombie & Fitch Co. was stung by the slowdown in consumer spending inthe second quarter.

Abercrombie & Fitch Co. was stung by the slowdown in consumer spending in the second quarter.

The retailer reported a 4.2 percent fall in second-quarter profits Friday to $77.8 million, or 87 cents a diluted share, from $81.2 million, or 88 cents a share, in the same period last year. Second-quarter sales rose 5.1 percent to $845.8 million from $804.5 million a year ago.

“Our second quarter financial results reflect difficult macroeconomic conditions and a significant slowdown in consumer spending,” said Mike Jeffries, chairman and chief executive officer of the New Albany, Ohio-based
business. 

For complete coverage, see Monday’s WWD.