Abercrombie & Fitch Co. (NYSE:ANF) warmed to the news of quarterly and end of year figures, announced before Wednesday’s opening bell.
The company, based in New Albany, Ohio, reported that net sales of $1.2 billion for the quarter declined 3% from last year. Results reflect a combined adverse impact of approximately 6% due to the calendar shift, the loss of fiscal 2017's 53rd week and foreign currency fluctuations. For the full year, net sales grew 3% to $3.6 billion.
Net income per diluted share of $1.42 for the fourth quarter and $1.08 for the full year. Adjusted non-GAAP net income per diluted share of $1.35 and $1.15 for the fourth quarter and full year, respectively.
Operating income was $129.7 million in the fourth quarter, compared to $140.3 million last year. Excluding certain items, adjusted non-GAAP operating income was $148.4 million last year. For the full year, operating income was $127.4 million compared to $72.1 million last year.
Excluding certain items, adjusted non-GAAP operating income was $138.6 million compared to $100.8 million last year.
Said CEO Fran Horowitz,"We ended 2018 on a strong note, recording our sixth consecutive quarter and second consecutive full year of positive comparable sales while exceeding $1 billion in annual digital sales. I am proud of our team and all we have accomplished this year.
"Most importantly, while delivering on the top-line, we drove gross profit rate improvement and operating expense leverage resulting in 100 basis points of adjusted EBIT margin expansion and a 77% improvement in adjusted net income for the full year."
Shares galloped $3.87, or 18.1%, to $25.22
