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Abercrombie & Fitch profit leaps 14% in Q2
16 Aug '06
3 min read
Net income for the quarter increased 14% to $65.7 million, or $0.72 per share on a fully-diluted basis, from $57.4 million, or $0.63 per share on a fully-diluted basis, for the second quarter of fiscal 2005.
The company expects net income per share on a fully-diluted basis for the second-half of fiscal 2006 to be in the range of $3.15 to $3.20, including a charge of approximately $0.02 attributable to expense related to FAS 123. Based upon this guidance, it now expects its fully-diluted earnings per share for the year to be in the range of $4.49 to $4.54, including a charge of approx. $0.10 attributable to FAS 123.
For fiscal 2006, the company expects to increase gross square-footage from approx. 11% to 12% primarily through the addition of approx. 74 Hollister Co new stores, 18 abercrombie new stores, eight Abercrombie & Fitch new stores and seven RUEHL new stores.
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 September 19, 2006 to shareholders of record at the close of business on August 29th 2006. It plans to open its first European location in London in early 2007.
The company operated 351 Abercrombie & Fitch stores, 164 abercrombie stores, 355 Hollister Co stores, and ten RUEHL stores at the end of the second quarter of 2006.
The company expects net income per share on a fully-diluted basis for the second-half of fiscal 2006 to be in the range of $3.15 to $3.20, including a charge of approximately $0.02 attributable to expense related to FAS 123. Based upon this guidance, it now expects its fully-diluted earnings per share for the year to be in the range of $4.49 to $4.54, including a charge of approx. $0.10 attributable to FAS 123.
For fiscal 2006, the company expects to increase gross square-footage from approx. 11% to 12% primarily through the addition of approx. 74 Hollister Co new stores, 18 abercrombie new stores, eight Abercrombie & Fitch new stores and seven RUEHL new stores.
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 September 19, 2006 to shareholders of record at the close of business on August 29th 2006. It plans to open its first European location in London in early 2007.
The company operated 351 Abercrombie & Fitch stores, 164 abercrombie stores, 355 Hollister Co stores, and ten RUEHL stores at the end of the second quarter of 2006.
Abercrombie & Fitch Co
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