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Abercrombie & Fitch Posts Higher 3Q Profit on Fewer Discounts

Abercrombie & Fitch Co. ANF -1.32 % showed progress in its efforts to revamp its brand and wean its customers off heavy discounts, helping the teen retailer post a higher quarterly profit.

Profit more than doubled to $42.3 million in the three months through Oct. 31, from $18.2 million a year ago.

Sales declined 4% to $878.6 million but were flat excluding currency fluctuations. Sales excluding newly opened or closed stores decreased 1%. By that measure, sales were down 5% at the company’s namesake chain, but they were up 3% at Hollister, the first time that brand has grown same-store sales since January 2012.

Arthur Martinez, Abercrombie’s executive chairman, said in an interview that the results were driven...