Gilly Hicks

Armonk, N.Y. -- IBM announced that Abercrombie & Fitch Co. is working with IBM software to help the company transform its online business to achieve greater speed and efficiency. The initiative is part of Abercombie's strategic goal to expand its direct-to-consumer capabilities and drive its e-commerce business to $1 billion. "Abercrombie & Fitch Co., and its portfolio of brands including Abercrombie & Fitch, Hollister Co, Abercrombie kids, and Gilly Hicks, is growing its e-commerce and cross-channel operation dramatically in the coming years. We require a world-class solution that will scale over time, bolster international expansion, and support cross-channel commerce.

Abercrombie & Fitch Co. reported Tuesday that it swung to a profit in the second quarter as lowered prices bolstered sales. The teen retailer recorded net income of $19.5 million, compared with a loss of $26.7 million in the year-ago quarter. Abercrombie also said Tuesday it will close 60 stores in the United States in 2010 as it expands internationally.Revenue rose 17% to $745.8 million, surpassing Wall Street expectations of $727.7 million.Same-store sales rose 5%.In the United States, the retailer said it plans to open three Abercrombie & Fitch stores; three Abercrombie Kids stores; three Hollister stores; two Gilly

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