United States Of America : Abercrombie & Fitch's net income up 33% in Q4 FY15

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Abercrombie & Fitch's net income up 33% in Q4 FY15

04
Mar '16

Courtesy: Abercrombie & Fitch

Abercrombie & Fitch, a US company with brands – Abercrombie & Fitch, Abercrombie Kids and Hollister, reported a rise of 32.95 per cent to 58.9 million in its net income in the fourth quarter of fiscal 2015, ending on January 30, 2016, as compared to 44.3 million in the same period last fiscal, according to a statement released by the company.

Diluted net income per share for this quarter was $0.85 as compared to $0.63 in Q4 of FY14, ending on January 31, 2015 at the company.

Gross profit for the company in the fourth quarter of FY15 was $676.3 million as compared to $681.8 million in the same period last fiscal, a fall of 0.80 per cent.

Net sales in this period stood at $1.112 billion as compared to $1.119 billion in the previous fiscal.

Commenting on the results, Arthur Martinez, executive chairman of the company said, “We were pleased to deliver results in line with our expectations against the backdrop of a challenging environment that included currency, traffic and weather headwinds.”

Adding further, he said, “2015 was a year of tremendous change for us. While we accomplished a lot, there is much more progress we need to make to fulfill the potential of our brands.” (MCJ)

Fibre2Fashion News Desk – India

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