Abercrombie & Fitch Q3 Profit Tops Estimates, Sales Decline

Abercrombie and Fitch lost a bit of Christmas sparkle on Wednesday. The teen retailer's adjusted Q3 profits topped analyst estimates, but sales declined and shares were down today. Abercrombie and Fitch cut its full-year earnings forecast after reporting earnings of $18.2 million or 25 cents per share. Revenue came in below Wall Street estimates dropping from $1 billion to $911.5 million. Sales in stores at least a year old were down 7 percent in the U.S. and 15 percent over seas. The brand family also includes surfer label Hollister and Gilly Hicks. The Ohio-based company now anticipates full-year earnings of around $1.50-65 per share.