American apparel retailer Abercrombie & Fitch Co. has reported that net sales of US $ 1.113 billion for the fourth quarter were up 2 per cent on a constant currency basis and down 1 per cent on a reported basis over last year.
Comparable sales for the fourth quarter increased 1 per cent. On a sequential basis, comparable sales trends improved across all brands and geographies.
As per the press release issued by the company, adjusted non-GAAP net income per diluted share for the fourth quarter was US $ 1.08, compared to US $ 1.15 for the fourth quarter last year. In addition, the company reported GAAP net income per diluted share of US $ 0.51 for the full year, compared to US $ 0.71 for the full year last year.
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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. Our results for the fourth quarter reflect continued progress on a number of fronts and included a return to positive comparable sales, higher average unit retails as promotional activity was moderated, and meaningful improvement in adjusted operating income on a constant currency basis. In addition, inventory continued to be well managed and we generated strong free cash flow for the year.”
