Abercrombie & Fitch reports surprise profit

Abercrombie & Fitch posted a three percent gain in same-store sales during the first quarter. The retailer's profits came in at 39 cents a share. Analysts were expecting it to break even. "Abercrombie's offering is resonating meaningfully with our target customer, setting several other sales records this quarter across genders, categories and geographies," said CEO Fran Horowitz.