Abercrombie Projects $7.5 Billion in Sales by 2015

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Photo: Abercrombie

Having been scathed by recessionary losses, the bizarre flying habits of CEO Michael Jeffries, and bedbugs, Abercrombie & Fitch is finally turning things around. The company's stock rose 10.8 percent yesterday to its highest level in almost three years at $65.57 a share following the company's announcement that sales are expected to reach $7.5 billion by 2015. For the year 2010, revenues were $3.47 billion with a net income of $150.3 million versus the year before's net income of $300,000 — or close to half of Jeffries's travel budget on the private jet (before the company paid him to travel less).

Abercrombie & Fitch Sees $7.5B in Sales by 2015 [WWD]