Clothing store Abercrombie & Fitch Co reported unaudited results which reflected record second quarter net income of $57.4 million and net income per share on a fully- diluted basis of $0.63 for the second quarter ended July 30, 2005.
Second Quarter Highlights - Total Company net sales increased 42 percent to $571.6 million; comparable store sales increased by 30 percent
- Abercrombie & Fitch net sales increased 22 percent to $305.6 million; Abercrombie & Fitch comparable store sales increased by 26 percent
- Abercrombie net sales increased 52 percent to $63.3 million; abercrombie comparable store sales increased by 57 percent
- Hollister net sales increased 82 percent to $199.8 million; Hollister comparable store sales increased by 29 percent
- The Company's operating income increased 32 percent to $91.1 million from $68.8 million in fiscal 2004
- Net income increased 34 percent to $57.4 million from $42.9 million in fiscal 2004
- Net income per share on a fully-diluted basis increased 43 percent to $0.63 from $0.44 in fiscal 2004
- The Company raises guidance for full year net income per share on a fully-diluted basis for fiscal 2005 to be in the range of $3.10 to $3.30
- The Board of Directors declares a quarterly cash dividend of $0.175 per share on the Company's common stock, an increase of 40 percent
- The Board of Directors authorizes the repurchase of an additional six million shares of Abercrombie & Fitch Common Stock
Mike Jeffries, ChiefExecutive Officer and Chairman of the Board of Abercrombie & Fitch Co, said: "Company achieved extraordinary like for like and total sales growth this quarter."
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