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ABERCROMBIE SEES MARGINS RISING
ABERCROMBIE & Fitch said yesterday it expects its gross margins to recover “significantly” this fiscal year, helped by easing cotton costs and rising sales overseas. The clothing retailer, which caters primarily to teens and young adults, said the need to slash prices during the competitive holiday season coupled with higher cotton costs took a heavy toll on its gross margin and sent fourth quarter profits down 79 per cent Picture: GETTY