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Business Description
Abercrombie & Fitch Co., through its subsidiaries, is a specialty retailer that operates stores selling casual apparel, personal care and other accessories for men, women and kids under the Abercrombie & Fitch, abercrombie and Hollister brands. During the fiscal year ended January 31, 2004 (fiscal 2003), the Company operated 700 stores located in 49 states and the District of Columbia, opening 107 stores and closing four stores. The Company's stores and point-of-sale marketing are designed to convey the principal elements and personality of each brand. The store design, furniture, fixtures and music are all carefully planned and coordinated to create a shopping experience that is consistent with the Abercrombie & Fitch, abercrombie or Hollister lifestyle. The Company maintains a uniform appearance throughout its store base in terms of merchandise display and location on the selling floor.

Financial Information
For the 39 weeks ended 10/30/04, net sales rose 16% to $1.33 billion. Net income rose 2% to $112.6 million. Revenues reflect increase in demand for apparels. Net income was partially offset by increase in cost of goods sold, increase in general, administration and store operation expenses.