Abercrombie & Fitch 1997 Annual Report Download - page 22

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TO THE BOARD OF DIRECTORS AND SHAREHOLDERS OF ABERCROMBIE & FITCH CO.
We have audited the accompanying consolidated balance sheets of Abercrombie & Fitch Co. and
subsidiaries as of January 31, 1998 and February 1, 1997 and the related consolidated statements
of income, shareholders' equity (deficit) and cash flows for each of the three fiscal years in the period
ended January 31, 1998 (appearing on pages 20 through 29). These financial statements are the
responsibility of the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those
standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examin-
ing, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the consolidated financial position of Abercrombie & Fitch Co. and subsidiaries as of
January 31, 1998 and February 1, 1997 and the consolidated results of their operations and their
cash flows for each of the three fiscal years in the period ended January 31, 1998, in conformity
with generally accepted accounting principles.
Coopers & Lybrand L.L.P.
Columbus, Ohio
February 20, 1998
REPORT OF INDEPENDENT ACCOUNTANTS
30
Abercrombie &Fitch Co.