ABERCROMBIE & FITCH HIT BY HIGHER COSTS

ABERCROMBIE & Fitch said yesterday that its third-quarter profits rose slightly but higher costs for materials such as cotton took their toll. Profits edged up to $50.9m (£32.2m) – lower than analysts’ forecasts, compared to $50m in the same period last year. Revenue rose nearly 22 per cent to $1.08bn from $886m.