Abercrombie & Fitch Sees 2Q Net Income Rise 18%

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Abercrombie & Fitch's net income increased 18 percent in the second quarter of 2001, the company reported this week. The cataloger, retailer and e-tailer had net income of $25 million compared with $21.2 million posted in second quarter 2000.


Net sales for the second quarter, which ended Aug. 4, increased 22 percent to $280.1 million, from $229 million recorded during the quarter that ended July 29, 2000. Operating income during the quarter increased 18 percent to $39.9 million compared with $33.9 million in the second quarter last year.


Earnings per share on a fully diluted basis for the second quarter increased 14 percent to 24 cents compared with 21 cents during the comparable period last year.


Year-to-date net sales rose 25 percent to $543.8 million from $434 million in 2000. Operating income, year-to-date, rose 23 percent to $72 million compared with $58.4 million during the same period last year. Year-to-date net income rose 22 percent to $45.6 million from $37.3 million last year.


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