Abercrombie & Fitch posts Q2 profit

Abercrombie & Fitch Co., for the second quarter ended August 1, 2020 has reported net sales of 698 million dollars, down 17 percent compared to last year, reflecting the adverse impact of Covid-19 on store sales. The company said in a statement that digital net sales increased 56 percent to 386 million dollars, reflecting growth in every month of the quarter. Net income per diluted share improved to 9 cents and 23 cents on a reported and adjusted non-GAAP basis, respectively, as compared to net loss per diluted share last year of 48 cents.