Abercrombie
Written on February 18, 2008
Abercrombie & Fitch Co. said Friday that its fourth-quarter earnings rose 9% on increased sales from its expanding Hollister Co. chain that caters to teens and its abercrombie stores for children.
The apparel retailer said it earned $216.8 million, or $2.40 per share, for the quarter ended Feb. 2, compared with a profit of $198.2 million, or $2.14, a year ago. Fourth-quarter sales rose 8% to $1.23 billion, from $1.14 billion. The year-ago quarter had an extra week.
Analysts surveyed by Thomson Financial expected profits of $2.36 per share, excluding one-time items on revenue of $1.25 billion.
Sales at stores open at least a year, considered to be a key indicator of a retailer’s strength, were down 1% for the quarter.
At the end of the quarter, Abercrombie operated 447 Hollister Co. stores, compared with 390 the year before, and 201 abercrombie stores, compared with 177 the year before.
For the year, Abercrombie earned $475.7 million, or $5.20 per share, compared with $422.2 million, or $4.59, the previous year 500 fast cash. Sales rose 13% to $3.75 billion for the year, up from $3.32 billion a year ago. There was an extra week in the year-ago period. Same-store sales fell 1% for the year.
Wall Street was looking for profits of $5.16 per share on revenue of $3.8 billion for the year.
Abercrombie (ANF), based near Columbus, also had 355 Abercrombie & Fitch stores, 22 Ruehl stores and three Gilly Hicks stores at the end of the fiscal year. It has six stores in Canada and an Abercrombie store in London.
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