Abercrombie & Fitch 2003 Annual Report Download - page 36

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Abercrombie &Fitch
15. QUARTERLY F INANCIAL DATA ( UNAUDITED) Summarized
quarterly financial results for 2003 and 2002 follow (thousands
except per share amounts):
2003 Quarter First Second Third Fourth
Net sales $346,722 $355,719 $444,979 $560,389
Gross income 128,188 144,333 183,865 261,012
Operating income 40,290 55,617 81,450 154,278
Net income 25,551 34,818 50,457 94,277
Net income per basic share $.26 $.36 $.52 $.98
Net income per diluted share $.26 $.35 $.51 $.96
2002 Quarter First Second Third Fourth
Net sales $312,792 $329,154 $419,329 $534,482
Gross income 114,429 131,874 166,736 243,010
Operating income 36,987 49,570 76,432 149,628
Net income 23,289 31,141 47,687 92,818
Net income per basic share $.24 $.32 $.49 $.95
Net income per diluted share $.23 $.31 $.48 $.93
MARKET PRICE INFORMATION. A&F’s Class A Common Stock
is traded on the New York Stock Exchange under the symbol “ANF.”
The following is a summary of the high and low sales prices of
A&F’s Class A Common Stock as reported on the New York Stock
Exchange for the 2003 and 2002 fiscal years:
Sales Price
High Low
2003 Fiscal Year
4th Quarter $29.82 $23.49
3rd Quarter $31.47 $26.77
2nd Quarter $32.80 $26.14
1st Quarter $33.11 $26.98
2002 Fiscal Year
4th Quarter $27.90 $17.76
3rd Quarter $25.18 $15.57
2nd Quarter $33.00 $20.51
1st Quarter $33.30 $23.04
A&F has not paid dividends on its shares of Class A Common
Stock in the past. In February 2004, the Board of Directors voted to
initiate a cash dividend, at an annual rate of $0.50 per share. The
first quarterly dividend, of $0.125 per share, was paid on March 30,
2004 to stockholders of record as of March 9, 2004.
On March 26, 2004, there were approximately 5,000 shareholders
of record. However, when including active associates who participate
in A&F’s stock purchase plan, associates who own shares through
A&F-sponsored retirement plans and others holding shares in broker
accounts under street name, A&F estimates the shareholder base at
approximately 52,000.
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