Abercrombie & Fitch loses money in 1Q, sales rise

NEW ALBANY, OHIO (AP) - Abercrombie & Fitch narrowed its loss in the first quarter as sales improved in the U.S. and overseas, but the retailer lost more money than analysts expected as it made less money on some sales.

Abercrombie was hurt during the recession as consumers cut back. Its business has gained some traction after the retailer improved its fashions and lowered prices.

Abercrombie & Fitch Co., based in New Albany, Ohio, posted a loss of $11.8 million, or 13 cents per share, smaller than its loss of $59.2 million, or 68 cents per share, a year earlier.

Revenue rose 14 percent to $687.8 million.

Gross profit slipped to 62.7 percent of revenue, from 63.4 percent, a year earlier.

Analysts predicted a loss of 5 cents per share on revenue of $680.5 million.