(Reuters) – Abercrombie & Fitch Co on Wednesday reported a 41.5% drop in quarterly profit, as higher labor costs and inflationary pressures squeezed margins.
The company’s net income attributable to Abercrombie fell to $38.3 million, or 75 cents per share, in the fourth quarter, from $65.5 million, or $1.12 per share, a year earlier.
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shailesh Kuber)