Abercrombie & Fitch Q4 Sales Up

Abercrombie & Fitch has reported net sales of $1.229 billion for the 13 weeks ended February 2, 2008, up 8% compared to $1.139 billion for the 14 weeks ended February 3, 2007.

Total company direct-to-consumer net sales increased 45% to $108.6 million for the 13 week period ended February 2, 2008, compared to the 14 week period ended February 3, 2007. Total company fourth quarter comparable store sales decreased 1% compared to the 13 week period ended February 3, 2007.

Net income for the fourth quarter increased 9% to $216.8 million compared to $198.2 million last year. Net income per diluted share increased 12% to $2.40 compared to $2.14 per diluted share for the fourth quarter of fiscal 2006. Net income for fiscal 2007 increased 13% to $475.7 million compared to $422.2 million last year. For fiscal 2007, net income per diluted share increased 13% to $5.20 versus $4.59 last year.

For the 52 week fiscal year ended February 2, 2008, the company reported a net sales increase of 13% to $3.750 billion from $3.318 billion for the 53 week fiscal year ended February 3, 2007. Total company direct-to-consumer net sales increased 49% to $258.9 million for the 52 week fiscal year ended February 2, 2008, compared to the 53 week fiscal year ended February 3, 2007.

The fourth quarter operating income rate, as a percentage of sales, was 27.4%, a 30 basis point increase over last year’s rate of 27.1%. For fiscal 2007, operating income was $740.5 million versus $658.1 million last year, an increase of 13%.