Abercrombie & Fitch today reported net sales of $126.1 million for the four-week period ended January 29, 2005, a 30% increase over last year's January sales of $97.1 million. January comparable store sales increased 17% compared to the four-week period ended January 31, 2004.
Sales Results
For the fourth quarter, the thirteen-week period ended January 29, 2005, the Company reported a net sales increase of 23% to $687.3 million from $560.4 million for the same period last year. Comparable store sales for the fourth quarter increased 9% compared to the same period last year.
For the 2004 fiscal year, the Company reported a net sales increase of 18% to $2.021 billion from $1.708 billion last year. Comparable store sales increased 2% for the year-to-date period.
Consistent with last month's statement, management reiterates that they expect the increase in fourth quarter net income over last year to be approximately in line with the increase in total fourth quarter comparable store sales.
Merchandise Results
The Company reported that January comparable store sales increased 17% for the month driven largely by a strong response to the spring assortment.
In the Abercrombie & Fitch brand, comparable store sales increased 13% for the month with strong merchandise trends in denim, fleece, knits, tee-shirts and men's woven shirts.
The Hollister brand continues to perform extremely well with comparable store sales up 22% over last year. All key merchandise classifications were positive for the month.
The Company's kids brand, abercrombie, reported same store sales increased 27% over last year. Sales were extremely strong throughout most of the merchandise assortment in both the girls and boys businesses.
The Company operated 356 Abercrombie & Fitch stores, 171 abercrombie stores, 256 Hollister Co. stores and 4 RUEHL stores at the end of January. The Company operates e-commerce websites at http://www.abercrombie.com , http://www.abercrombiekids.com , and http://www.hollisterco.com .
