Preppy clothing seller Abercrombie & Fitch Co. reported that its third-quarter profit fell 39 percent, but that was less than expected and investors pushed shares up 7 percent. Revenue fell 15 percent.

Profit for the three months that ended Oct. 31 fell to $38.8 million, or 44 cents per share.

Abercrombie & Fitch shares rose $2.69, or 7.3 percent, to $39.45 during midday trading.