Abercrombie & Fitch Co. said Wednesday its second-quarter net income rose 64 percent, boosted by higher demand for its preppy fashions in the U.S. and Europe...But like all retailers, Abercrombie & Fitch Co. is facing higher prices of commodities such as cotton during the key back-to-school season. "Costing pressures will be greater in the second half of the year, and macroeconomic uncertainty has increased," said CEO Mike Jeffries. The news comes a day after the New Albany, Ohio-based company issued a statement saying that it offered "substantial payment" to a Michael "The Situation" Sorrentino, a member of the cast of the MTV Reality Show "Jersey Shore," to stop wearing its clothing, saying association with the cast member, known for boorish behavior, could cause "significant damage to our image." Abercrombie said it had extended the offer to other cast members as well. "Management may be correct in asking (and offering to pay) the cast of `Jersey Shore' to stop donning its logo-wear," said Wall Street Strategies analyst Brian Sozzi. "It doesn't need the infusion of MTV and side job dollars from the Jersey Shore crew, if the second quarter of 2011 was any indication." [AP]
Deutsche Bank Shocks Universe With Third Quarter Profit
No one saw this coming.
Laying Off Employees, U.K. Clusterf*ck Did Wonders For Bank Of America's Third Quarter Earnings
Yay BofA! Sorry unemployeds/people across the pond.
Firing A Bunch Of People Really Helped Citi's Bottom Line Last Quarter
So that's nice for...the bank.