Board of Directors Declares Quarterly Dividend of $0.175 NEW
ALBANY, Ohio, Feb. 16 /PRNewswire-FirstCall/ -- Abercrombie &
Fitch Co. (NYSE:ANF) today reported unaudited results which
reflected net income of $47.5 million and net income per diluted
share of $0.53 for the thirteen weeks ended January 30, 2010,
compared to net income of $68.4 million and net income per diluted
share of $0.78 for the thirteen weeks ended January 31, 2009.
Excluding a net loss from discontinued operations and non-cash
asset impairment charges, the Company reported non-GAAP net income
per diluted share of $0.91 for the thirteen weeks ended January 30,
2010, compared to non-GAAP net income per diluted share of $1.06
for the comparable period last year. A reconciliation of net income
per diluted share on a GAAP basis to net income per diluted share
excluding net loss from discontinued operations and non-cash asset
impairment charges, a non-GAAP financial measure, is summarized in
a table accompanying the Condensed Consolidated financial
statements included with this release. The Company also reported
net income of $0.3 million and net income per diluted share of
$0.00 for the fifty-two weeks ended January 30, 2010, compared to
net income of $272.3 million and net income per diluted share of
$3.05 for the fifty-two weeks ended January 31, 2009. Excluding a
net loss from discontinued operations and non-cash asset impairment
charges, the Company reported non-GAAP net income per diluted share
of $1.12 for the fifty-two weeks ended January 30, 2010, compared
to non-GAAP net income per diluted of $3.51 for the comparable
period last year. The Company completed the closure of its RUEHL
branded stores and related direct-to-consumer operations during the
fourth quarter. Accordingly, the after-tax operating results for
Ruehl are included in discontinued operations for all periods
presented in the Company's Condensed Consolidated Statements of
Income. Fourth Quarter Sales Highlights - From Continuing
Operations -- Total Company net sales, including direct-to-consumer
net sales, decreased 5% to $936.0 million -- Total Company domestic
net sales, including direct-to-consumer net sales, decreased 12% to
$793.1 million -- Total Company international net sales, including
direct-to-consumer net sales, increased 86% to $142.9 million --
Comparable store sales decreased 13% -- Total Company
direct-to-consumer net merchandise sales were $93.1 million, flat
compared to last year -- Abercrombie & Fitch net sales of
$398.0 million; Abercrombie & Fitch comparable store sales
decreased 8% -- abercrombie kids net sales of $111.8 million;
abercrombie kids comparable store sales decreased 11% -- Hollister
Co. net sales of $417.1 million; Hollister Co. comparable store
sales decreased 19% Mike Jeffries, Chief Executive Officer and
Chairman of the Board of Abercrombie & Fitch Co., said: "Having
managed through a very difficult retail environment in 2009 with a
long-term mindset of protecting our brands, we look forward to 2010
as we intend to grow the business internationally and improve the
profitability of the domestic business." Fourth Quarter and Fiscal
Year 2009 Financial Results Net sales for the thirteen weeks ended
January 30, 2010 decreased 5% to $936.0 million from $980.8 million
for the thirteen weeks ended January 31, 2009. Total Company
direct-to-consumer net merchandise sales were $93.1 million for the
thirteen week period ended January 30, 2010, flat to the comparable
period last year. Total Company fourth quarter comparable store
sales decreased 13%. For the fifty-two week fiscal year ended
January 30, 2010, the Company reported a net sales decrease of 16%
to $2.93 billion from $3.48 billion for the fifty-two week fiscal
year ended January 31, 2009. Total Company direct-to-consumer net
merchandise sales decreased 6% to $249.4 million for the fifty-two
week fiscal year ended January 30, 2010, compared to the fifty-two
week fiscal year ended January 31, 2009. Fiscal 2009 total Company
comparable store sales decreased 23%. The gross profit rate for the
fourth quarter was 63.5%, 110 basis points lower than last year's
fourth quarter gross profit rate. The decrease in gross profit rate
was primarily driven by a lower average unit retail, partially
off-set by a reduction in average unit cost. In addition, gross
profit for the quarter was affected by unplanned markdowns on
spring product that will go straight to clearance or outlet stores.
For Fiscal 2009, the gross profit rate was 64.3% versus 66.9% last
year. Stores and distribution expense, as a percentage of net
sales, increased to 44.2% from 39.3% for the fourth quarter. For
the thirteen weeks ended January 30, 2010 and January 31, 2009,
stores and distribution expense included non-cash, pre-tax asset
impairment charges related to 99 stores of $33.2 million, or 3.5%
of net sales, and charges related to 20 stores of $8.3 million, or
0.8% of net sales, respectively. Excluding the effect of impairment
charges, the increase in stores and distribution expense as a
percentage of net sales was primarily attributable to higher store
occupancy costs, including rent, depreciation and other occupancy
costs. For Fiscal 2009, stores and distribution expense, as a
percentage of net sales, increased to 48.7% versus 41.2% last year.
Marketing, general and administrative expense for the fourth
quarter was $92.4 million, compared to $97.5 million during the
same period last year. Marketing, general and administrative
expense reflects reductions related to employee compensation and
benefits, travel, outside services and marketing. For Fiscal 2009,
marketing, general and administrative expense was $353.3 million
compared to $405.2 million last year. The income tax rate for
continuing operations for the fourth quarter was 35.3% compared to
44.4% during the same period last year. The fourth quarter income
tax rate for continuing operations for Fiscal 2009 benefited from
foreign operations. The income tax rate for the fourth quarter of
Fiscal 2008 included a charge of $9.9 million related to IRC
Section 162(m). For Fiscal 2009, the income tax rate from
continuing operations was 33.9% compared to 39.5% last year. Net
income from continuing operations was $61.0 million and net income
per diluted share from continuing operations was $0.68 for the
thirteen weeks ended January 30, 2010, compared to net income from
continuing operations of $88.0 million and net income per diluted
share from continuing operations of $1.00 for the comparable period
last year. The results included non-cash, store-related asset
impairment charges of $0.23 per diluted share and $0.06 per diluted
share for the thirteen weeks ended January 30, 2010 and January 31,
2009, respectively, and a charge of $0.11 per diluted share related
to expense associated with IRC Section 162(m) for the thirteen
weeks ended January 31, 2009. For Fiscal 2009, net income from
continuing operations was $79.0 million and net income per diluted
share from continuing operations was $0.89, compared to net income
from continuing operations of $308.2 million and net income per
diluted share from continuing operations of $3.45 for the
comparable period last year, including the above charges. Net loss
from discontinued operations was $13.6 million and net loss per
diluted share from discontinued operations was $0.15 for the fourth
quarter, compared to net loss from discontinued operations of $19.6
million and net loss per diluted share from discontinued operations
of $0.22 for the comparable period last year. Net loss from
discontinued operations for the fourth quarter of Fiscal 2009
includes an after-tax charge of $13.7 million, or $0.15 per diluted
share, associated with the closure of the Ruehl business, primarily
related to lease termination costs. Net loss from discontinued
operations for the fourth quarter of Fiscal 2008 includes an
after-tax, store-related asset impairment charge of $13.6 million,
or $0.15 per diluted share. For Fiscal 2009, net loss from
discontinued operations was $78.7 million and net loss per diluted
share from discontinued operations was $0.89, compared to net loss
from discontinued operations of $35.9 million and net loss per
diluted share from discontinued operations of $0.40 for the
comparable period last year. Net loss from discontinued operations
includes after-tax charges of $34.2 million, or $0.39 per diluted
share, associated with the closure of the Ruehl business for Fiscal
2009, and after-tax charges of $31.4 million, or $0.35 per diluted
share, and $13.6 million, or $0.15 per diluted share, associated
with the impairment of Ruehl-related store assets for Fiscal 2009
and Fiscal 2008, respectively. The Company ended the fourth quarter
with $680.1 million in cash and cash equivalents, and borrowings
under the credit agreement of $50.9 million and outstanding letters
of credit of $50.0 million. Fiscal 2009 total capital expenditures
were $175.5 million, which consisted of approximately $136.5
million for new stores, store refreshes and remodels and $39.0
million related to information technology, distribution center and
other home office projects. During Fiscal 2009, the Company opened
24 new stores, 11 domestically and 13 internationally, and closed
53 stores, including 29 Ruehl stores. Ruehl Update - Discontinued
Operations As previously announced, on June 16, 2009, the Board of
Directors approved the closure of the Company's 29 Ruehl branded
stores and related direct-to-consumer operations. The Company
completed the closure during the fourth quarter of Fiscal 2009 and
accordingly the after-tax operating results of Ruehl for each
period presented are included in discontinued operations on the
Condensed Consolidated Statements of Income. As compared to the
previous estimate of $60 million, during Fiscal 2009 the Company
incurred aggregate pre-tax charges with a net present value of
approximately $56.1 million to exit the Ruehl business, of which
$22.4 million was incurred in the fourth quarter. In addition to
the $56.1 million in aggregate pre-tax exit charges incurred during
Fiscal 2009, the Company incurred non-cash, pre-tax asset
impairment charges related to Ruehl of $51.5 million during Fiscal
2009 and $22.3 million during Fiscal 2008. The net loss from
discontinued operations for the fourth quarter and fiscal year
includes the operating results, exit charges and non-cash
impairment charges for Ruehl as summarized in the table
accompanying the condensed consolidated financial statements
included with this release. Other Developments During the quarter,
the Company opened a flagship location in Tokyo, as well as five
Hollister mall-based stores in Europe. The Board of Directors
declared a quarterly cash dividend of $0.175 per share on the Class
A Common Stock of Abercrombie & Fitch Co. payable on March 16,
2010 to shareholders of record at the close of business on February
26, 2010. 2010 Outlook In Fiscal 2010, the Company expects to open
Abercrombie & Fitch flagship stores in Copenhagen, Denmark and
Fukuoka, Japan and a Hollister Epic store on Fifth Avenue in New
York. Additionally, the Company expects to open approximately 30
international mall-based Hollister stores. Based on current new
store plans and other planned expenditures, the Company expects
total capital expenditures to be in the range of $250 million to
$260 million, including $215 million to $225 million related to new
stores, store refreshes and remodels, and approximately $35 million
related to information technology, distribution center and other
home office projects. At the end of Fiscal 2009, the Company
operated a total of 1,096 stores. The Company operated 340
Abercrombie & Fitch stores, 205 abercrombie stores, 507
Hollister Co. stores and 16 Gilly Hicks stores domestically. The
Company also operated six Abercrombie & Fitch stores, four
abercrombie kids stores and 18 Hollister Co. stores
internationally. The Company operates e-commerce websites at
http://www.abercrombie.com/, http://www.abercrombiekids.com/,
http://www.hollisterco.com/ and http://www.gillyhicks.com/. Today
at 8:30 AM, Eastern Time, the Company will conduct a conference
call. Management will discuss the Company's performance and its
plans for the future and will accept questions from participants.
To listen to the live conference call, dial (888) 204-4317 or
internationally at (913) 981-5589. To listen via the Internet, go
to http://www.abercrombie.com/, select the Investors page and
scroll through the Calendar of Events. Replays of the call will be
available shortly after its completion. The audio replay can be
accessed for two weeks following the reporting date by calling
(888) 203-1112 or internationally at (719) 457-0820 followed by the
conference ID number 6042496; or for 12 months by visiting the
Company's website at http://www.abercrombie.com/. SAFE HARBOR
STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995 A&F cautions that any forward-looking statements (as such
term is defined in the Private Securities Litigation Reform Act of
1995) contained in this Press Release or made by management of
A&F involve risks and uncertainties and are subject to change
based on various important factors, many of which may be beyond the
Company's control. Words such as "estimate," "project," "plan,"
"believe," "expect," "anticipate," "intend," and similar
expressions may identify forward-looking statements. The following
factors, in addition to those included in the disclosure under the
heading " FORWARD-LOOKING STATEMENTS AND RISK FACTORS" in "ITEM 1A.
RISK FACTORS" of A&F's Annual Report on Form 10-K for the
fiscal year ended January 31, 2009, in some cases have affected and
in the future could affect the Company's financial performance and
could cause actual results for the 2009 fiscal year and beyond to
differ materially from those expressed or implied in any of the
forward-looking statements included in this Press Release or
otherwise made by management: current general and financial
economic conditions; changes in consumer spending patterns and
consumer preferences; the effects of political and economic events
and conditions domestically and in foreign jurisdictions in which
the Company operates, including, but not limited to, acts of
terrorism or war; the impact of competition and pricing; changes in
weather patterns; availability and market prices of key raw
materials; ability to source product from its global supplier base;
political stability; currency and exchange risks and changes in
existing or potential duties, tariffs or quotas; availability of
suitable store locations at appropriate terms; ability to develop
new merchandise; ability to hire, train and retain associates;
estimates of expenses which the Company may incur in connection
with the closure of the Ruehl stores and related direct-to-consumer
operations; and the outcome of pending litigation or other
adversarial proceedings. Future economic and industry trends that
could potentially impact revenue and profitability are difficult to
predict. Therefore, there can be no assurance that the
forward-looking statements included in this Press Release will
prove to be accurate. In light of the significant uncertainties in
the forward-looking statements included herein, the inclusion of
such information should not be regarded as a representation by the
Company, or any other person, that the objectives of the Company
will be achieved. The forward-looking statements herein are based
on information presently available to the management of the
Company. Except as may be required by applicable law, the Company
assumes no obligation to publicly update or revise its
forward-looking statements even if experience or future changes
make it clear that any projected results expressed or implied
therein will not be realized. Abercrombie & Fitch Co. Condensed
Consolidated Statements of Income (Unaudited) Thirteen Weeks Ended
January 30, 2010 and Thirteen Weeks Ended January 31, 2009 (in
thousands, except per share data) ACTUAL ACTUAL
------------------------- ------------------------- 2009 % of Net
Sales 2008 % of Net Sales --------- -------------- ---------
-------------- Net Sales $935,991 100.0% $980,809 100.0% Cost of
Goods Sold 341,449 36.5% 346,960 35.4% ------- ---- ------- ----
Gross Profit 594,542 63.5% 633,849 64.6% Total Stores and
Distribution Expense 413,983 44.2% 385,017 39.3% Total Marketing,
General and Administrative Expense 92,390 9.9% 97,464 9.9% Other
Operating Income, Net (7,268) -0.8% (5,431) -0.6% ------ ----
------ ---- Operating Income 95,437 10.2% 156,799 16.0% Interest
Expense (Income), Net 1,093 0.1% (1,419) -0.1% ----- --- ------
---- Income from Continuing Operation Before Income Taxes 94,344
10.1% 158,218 16.1% Income Tax Expense for Continuing Operations
33,319 3.6% 70,197 7.2% ------ --- ------ --- Net Income from
Continuing Operations 61,025 6.5% 88,021 9.0% Net Loss from
Discontinued Operations (net of taxes) (13,566) -1.4% (19,614)
-2.0% ------- ---- ------- ---- Net Income $47,459 5.1% $68,407
7.0% ------- --- ------- --- Net Income Per Share from Continuing
Operations: Basic $0.69 $1.01 Diluted $0.68 $1.00 Net Loss Per
Share from Discontinued Operations: Basic ($0.15) ($0.23) Diluted
($0.15) ($0.22) Total Net Income Per Share: Basic $0.54 $0.79
Diluted $0.53 $0.78 Weighted-Average Shares Outstanding: Basic
87,977 87,052 Diluted 89,114 88,258 Abercrombie & Fitch Co.
Condensed Consolidated Statements of Income (Unaudited) Fifty-Two
Weeks Ended January 30, 2010 and Fifty-Two Weeks Ended January 31,
2009 (in thousands, except per share data) ACTUAL ACTUAL
------------------------- ------------------------- 2009 % of Net
Sales 2008 % of Net Sales --------- -------------- ---------
-------------- Net Sales $2,928,626 100.0% $3,484,058 100.0% Cost
of Goods Sold 1,045,028 35.7% 1,152,963 33.1% --------- ----
--------- ---- Gross Profit 1,883,598 64.3% 2,331,095 66.9% Total
Stores and Distribution Expense 1,425,950 48.7% 1,436,363 41.2%
Total Marketing, General and Administrative Expense 353,269 12.1%
405,248 11.6% Other Operating Income, Net (13,533) -0.5% (8,778)
-0.3% ------- ---- ------ ---- Operating Income 117,912 4.0%
498,262 14.3% Interest Income, Net (1,598) -0.1% (11,382) -0.3%
Income from Continuing Operation Before Income Taxes 119,510 4.1%
509,644 14.6% Income Tax Expense for Continuing Operations 40,557
1.4% 201,475 5.8% ------ --- ------- --- Net Income from Continuing
Operations 78,953 2.7% 308,169 8.8% Net Loss from Discontinued
Operations (net of taxes) (78,699) -2.7% (35,914) -1.0% -------
---- ------- ---- Net Income $254 0.0% $272,255 7.8% ---- ---
-------- --- Net Income Per Share from Continuing Operations: Basic
$0.90 $3.55 Diluted $0.89 $3.45 Net Loss Per Share from
Discontinued Operations: Basic $(0.90) $(0.41) Diluted $(0.89)
$(0.40) Total Net Income Per Share: Basic $0.00 $3.14 Diluted $0.00
$3.05 Weighted-Average Shares Outstanding: Basic 87,874 86,816
Diluted 88,609 89,291 Abercrombie & Fitch Co. Condensed
Consolidated Balance Sheets (in thousands) (Unaudited) January 30,
January 31, ASSETS 2010 2009 ------ ----------------
---------------- Current Assets Cash and Equivalents $680,113
$522,122 Marketable Securities 32,356 - Receivables 102,450 53,110
Inventories 310,645 372,422 Deferred Income Taxes 44,570 43,408
Other Current Assets 89,942 93,763 ------ ------ Total Current
Assets 1,260,076 1,084,825 Property and Equipment, Net 1,244,019
1,398,655 Non-Current Marketable Securities 141,794 229,081 Other
Assets 187,562 135,620 ------- ------- TOTAL ASSETS $2,833,451
$2,848,181 ---------- ---------- LIABILITIES AND SHAREHOLDERS'
EQUITY ------------------------------------ Current Liabilities
Accounts Payable and Outstanding Checks $150,134 $149,753 Accrued
Expenses 264,109 241,231 Deferred Lease Credits 43,597 42,358
Income Taxes Payable 9,352 16,455 ----- ------ Total Current
Liabilities 467,192 449,797 Long-Term Liabilities Deferred Income
Taxes 47,142 34,085 Deferred Lease Credits 212,052 211,978 Debt
71,213 100,000 Other Liabilities 207,935 206,743 ------- -------
Total Long-Term Liabilities 538,342 552,806 Total Shareholders'
Equity 1,827,917 1,845,578 --------- --------- TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY $2,833,451 $2,848,181 ----------
---------- Reconciliation of GAAP to non-GAAP financial measures
This release contains non-GAAP financial measures reflecting
adjustments to the Company's net income per diluted share for the
thirteen and fifty- two weeks ended January 30, 2010 and January
31, 2009. Provided in the tables below are reconciliations between
the relevant GAAP financial measures and the non-GAAP financial
measures contained in this release. As used herein, "GAAP" refers
to accounting principles generally accepted in the United States of
America. The Company believes that the non-GAAP financial measures
presented in the release and below in the reconciliation tables are
useful to investors as they provide the ability to measure the
Company's operating performance and compare it against that of
prior periods without reference to the Condensed Consolidated
Statements of Income impact of discontinued operations and
non-cash, store related asset impairment charges. These non-GAAP
financial measures should not be used as alternatives to net income
per diluted share as indicators of the ongoing operating
performance of the Company and are also not intended to supersede
or replace the Company's GAAP financial measures. Abercrombie &
Fitch Co. Reconciliation of net income per diluted share on a GAAP
basis to net income per diluted share on a non-GAAP basis
(Unaudited) Thirteen Weeks Ended January 30, January 31, 2010 2009
------------------------------- Net income per diluted share on a
GAAP basis $0.53 $0.78 Plus: Net loss from discontinued operations
(1) $0.15 $0.22 Plus: Non-cash, store-related asset impairment
charges (2) $0.23 $0.06 ----- ----- Net income per diluted share on
a non-GAAP basis $0.91 $1.06 Fifty-two Weeks Ended January 30,
January 31, 2010 2009 --------------------------- Net income per
diluted share on a GAAP basis $0.00 $3.05 Plus: Net loss from
discontinued operations (1) $0.89 $0.40 Plus: Non-cash,
store-related asset impairment charges (2) $0.23 $0.06 ----- -----
Net income per diluted share on a non-GAAP basis $1.12 $3.51 (1)
Net loss from discontinued operations for the fourth quarter and
fiscal year includes the operating results, exit charges and
non-cash impairment charges for Ruehl as summarized in a table
accompanying the condensed consolidated financial statements
included with this release. (2) The non-cash, store-related asset
impairment charges relate to stores whose asset carrying value
exceeded the fair value. For Fiscal 2009 the charge was associated
with 34 Abercrombie & Fitch, 46 abercrombie kids and 19
Hollister stores. For Fiscal 2008 the charge was associated with 11
Abercrombie & Fitch, six abercrombie kids and three Hollister
stores. Abercrombie & Fitch Co. Analysis of Net Loss from
Discontinued Operations (Unaudited) (in thousands) Thirteen Weeks
Ended -------------------- January 30, 2010 ----------------
Operating Exit Impairment Results Charges Charges Total ---------
------- ---------- ----- Net Sales $15,032 $- $- $15,032 Cost of
Goods Sold 4,629 608 - 5,237 ----- --- --- ----- Gross Profit
10,403 (608) - 9,795 Stores and Distribution Expense 10,177 21,754
- 31,931 Marketing, General and Administrative Expense 82 22 - 104
Other Operating Income, Net - - - - --- --- --- --- Operating
Income (Loss) 144 (22,384) - (22,240) Tax Expense (Benefit) for
Discontinued Operations 56 (8,730) - (8,674) -- ------ --- ------
Net Income (Loss) from Discontinued Operations 88 (13,654) -
(13,566) Net Income (Loss) Per Share from Discontinued Operations:
Basic $0.00 $(0.15) $- $(0.15) Diluted $0.00 $(0.15) $- $(0.15)
Thirteen Weeks Ended -------------------- January 31, 2009
---------------- Operating Exit Impairment Results Charges Charges
Total --------- ------- ---------- ----- Net Sales $17,146 $- $-
$17,146 Cost of Goods Sold 8,381 - - 8,381 ----- --- - ----- Gross
Profit 8,765 - - 8,765 Stores and Distribution Expense 15,170 -
22,272 37,442 Marketing, General and Administrative Expense 3,514 -
- 3,514 Other Operating Income, Net (37) - - (37) --- --- --- ---
Operating Income (Loss) (9,882) - (22,272) (32,154) Tax Expense
(Benefit) for Discontinued Operations (3,854) - (8,686) (12,540)
------ --- ------ ------- Net Income (Loss) from Discontinued
Operations (6,028) - (13,586) (19,614) Net Income (Loss) Per Share
from Discontinued Operations: Basic $(0.07) $- $(0.16) $(0.23)
Diluted $(0.07) $- $(0.15) $(0.22) Fifty-two Weeks Ended
--------------------- January 30, 2010 ---------------- Operating
Exit Impairment Results Charges Charges Total --------- -------
---------- ----- Net Sales $48,393 $- $- $48,393 Cost of Goods Sold
21,429 608 - 22,037 ------ --- --- ------ Gross Profit 26,964 (608)
- 26,356 Stores and Distribution Expense 43,407 54,903 48,516
146,826 Marketing, General and Administrative Expense 4,942 594
3,020 8,556 Other Operating Income, Net (11) - - (11) --- --- ---
--- Operating Income (Loss) (21,374) (56,105) (51,536) (129,016)
Tax Expense (Benefit) for Discontinued Operations (8,336) (21,881)
(20,099) (50,316) ------ ------- ------- ------- Net Income (Loss)
from Discontinued Operations (13,038) (34,224) (31,437) (78,699)
Net Income (Loss) Per Share from Discontinued Operations: Basic
$(0.15) $(0.39) $(0.36) $(0.90) Diluted $(0.15) $(0.39) $(0.35)
$(0.89) Fifty-two Weeks Ended --------------------- January 31,
2009 ---------------- Operating Exit Impairment Results Charges
Charges Total --------- ------- ---------- ----- Net Sales $56,218
$- $- $56,218 Cost of Goods Sold 25,621 - - 25,621 ------ --- ---
------ Gross Profit 30,597 - - 30,597 Stores and Distribution
Expense 52,876 - 22,272 75,148 Marketing, General and
Administrative Expense 14,411 - - 14,411 Other Operating Income,
Net (86) - - (86) --- --- --- --- Operating Income (Loss) (36,604)
- (22,272) (58,876) Tax Expense (Benefit) for Discontinued
Operations (14,275) - (8,686) (22,962) ------- --- ------ -------
Net Income (Loss) from Discontinued Operations (22,328) - (13,586)
(35,914) Net Income (Loss) Per Share from Discontinued Operations:
Basic $(0.26) $- $(0.16) $(0.41) Diluted $(0.25) $- $(0.15) $(0.40)
DATASOURCE: Abercrombie & Fitch Co. CONTACT: Eric Cerny,
Manager, Investor Relations, +1-614-283-6385 Web Site:
http://www.abercrombie.com/
Copyright