Abercrombie & Fitch (NYSE: ANF) today reported that earnings per share on a fully diluted basis for the third quarter ended November 1, 2003 rose 6% to $0.51 versus $0.48 for the comparable period last year.
Net sales for the thirteen weeks ended November 1, 2003 increased 6% to $445.0 million from $419.3 million for the thirteen weeks ended November 2, 2002. Comparable store sales decreased 9% in the quarter.
Net income for the quarter increased 6% to $50.5 million compared to net income of $47.7 million for the third quarter of fiscal 2002.
Mike Jeffries, Chairman and Chief Executive Officer, said, ''Given the very difficult sales environment, I am pleased with our financial performance for the third quarter. Although I am optimistic about our Holiday assortment, it is very difficult at this point to predict the level of demand for the fourth quarter. However, if the third quarter sales trend continues, we are comfortable that we can report flat EPS versus last year for the fourth quarter.''
