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Abercrombie Posts Record Year

NEW ALBANY, OH-The apparel chain ends the year with record sales and earnings.

By Jennifer D. Duell | Updated on February 15, 2006

NEW ALBANY, OH-Record sales of $2.9 billion and comp-store sales of 26% drive Abercrombie & Fitch Co. to a record profit of $334 million for its fiscal year 2005, an increase of 54% from $216.4 million last year.

“Fiscal 2005 was a very successful year,” said Abercrombie chairman and CEO Mike Jeffries during the company’s earnings conference call. He added that the chain improved the shopping experience for all of its brands, which include Abercrombie & Fitch, abercrombie, Hollister and RUEHL, and broadening design and merchandising personnel.

For fiscal 2005, net income per share on a fully-diluted basis increased 61% to $3.66 versus $2.28 last year. Net income per fully-diluted share for fiscal 2005 includes the effect of a third quarter non-recurring charge of 9 cents on an after-tax basis. Net income per fully-diluted share for fiscal 2004 includes the effect of a non-recurring charge of 27 cents on an after-tax basis. Net sales for the fiscal year ended January 28, 2006 increased 38% to versus $2 billion last year.

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