Abercrombie & Fitch

Abercrombie & Fitch Co. (New Albany, Ohio) reported record net income for its fourth quarter ended Jan. 29, 2005.

Total company net sales increased 23 percent; same-store sales increased 9 percent.

Abercrombie & Fitch sales increased 6 percent and same-store sales increased by 4 percent. Hollister sales increased 74 percent and same- store sales increased by 19 percent.

For the full year, total company net sales increased 18 percent and same-store sales increased 2 percent.

“I am extremely pleased with the progress we have made in recent months,” said chairman and ceo Mike Jeffries. “We have delivered outstanding fashion, continued to improve the quality of product as well as the presentation, environment and service level in our stores. The expenditures we made to achieve these results have been more than compensated by improved sales and gross margin and have allowed us to deliver record fourth quarter profits. Looking forward to 2005, we will continue to invest in our merchandising and design teams as well as in the recruiting, training and retention of store management and staff. We will begin international expansion in 2005 as we open our first stores in Canada and the development of Ruehl will proceed at a measured pace.”