NEW ALBANY, Ohio, Aug 12, 2003 /PRNewswire-FirstCall via COMTEX/ — Abercrombie & Fitch (NYSE: ANF) today reported that earnings per share on a fully diluted basis for the second quarter ended August 2, 2003 rose 13% to $.35 versus $.31 for the comparable period last year.
Net sales for the thirteen weeks ended August 2, 2003 increased 8% to $355.7 million from $329.2 million for the thirteen weeks ended August 3, 2002. Comparable store sales decreased 8% in the quarter.
Net income for the quarter increased 12% to $34.8 million compared to net income of $31.1 million for the second quarter of fiscal 2002.
Mike Jeffries, Chairman and Chief Executive Officer, said, “I am pleased with our second quarter financial results. Despite a tough sales environment, we were able to report double-digit profit growth. It is very difficult at this point to predict the level of demand for the fall season. However, if the second quarter sales trend continues, we are comfortable that we can report flat to slightly higher EPS for the third quarter.”
Abercrombie & Fitch operated a total of 625 stores at the end of the second quarter, including 167 abercrombie stores and 112 Hollister Co. stores. The Company operates e-commerce websites at www.abercrombie.com , www.abercrombiekids.com , www.hollisterco.com and publishes the A&F Quarterly.
Today at 4:30 p.m. the Company will conduct a conference call. Management will discuss the Company's performance, its plans for the future and will accept questions from participants.