A&F says 4Q net income up 9%

NEW ALBANY, Ohio Abercrombie & Fitch today reported unaudited net income of $216.8 million, and net income per diluted share of $2.40, for its fourth quarter ended Feb. 2. A&F said this represented a 9% increase over net income of $198.2 million and a 12% increase over net income per diluted share of $2.14 for the same period last year.

For the fiscal year, A&F reported a 13% increase over net income of $422.2 million and net income per diluted share of $4.59 for the same period last year.

Net sales for the quarter were $1.23 billion, an 8% increase over net sales of $1.13 billion last year. Fourth quarter comparable-store sales fell 1%.

For the full year the company reported a net sales increase of 13% to $3.750 billion from $3.318 billion for the fifty-three week fiscal year ended Feb. 3, 2007. Fiscal 2007 comparable-store sales decreased 1%.

"Our brands represent highly productive, consistent businesses that are the result of an unyielding focus on merchandise quality and customer experience. We continue to make strategic investments in the business to sustain and to enhance brand quality and to support future growth, both domestically and internationally," said Mike Jeffries, ceo and chairman of the board of Abercrombie & Fitch.