Young-fashion chain Abercrombie & Fitch reported net income dropped 39% to $38.8m (£23.8m) in its third quarter.

Net sales declined 15% to $765.4m (£468.9m) while comparable store sales were down 22%.

At a divisional level, comparable store sales fell 18% at Abercrombie & Fitch, 22% at Abercrombie Kids, 26% at Hollister and 30% at Ruehl.

However, direct-to-consumer sales rose 11% to $63.9m (£38.2m). During the quarter, the retailer opened a flagship shop in Italy as well as additional Hollister stores in UK shopping centres.

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