Abercrombie & Fitch swings to profit, to close 60 stores

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