ANF prelim $1.80 vs $1.78 Reuters consensus; revs $961.4 mln vs $947.85 mln Reuters consensus
ANF Abercrombie Conference Call Summary (68.78 +0.55) -Update-
On call, co says they expect inventory rises to moderate soon; co says 5.7mln shares remaining under existing buyback program; co plans on opening stores in 2006 as follows: 12 new Abercrombie & Fitch stores, 19 ANF kids stores, 8 new RUEL stores and 64 Hollister stores. Co says there is huge room for growth of Hollister brand; co plans on opening an ANF flaghsip in L.A. this year and in London during 2007; co says it will be opportunistic w/ price increases within ANF but will stay where they are in terms of price w/ ANF kids and Hollister items. analyst on call says biggest controversy on the street is the co's inventory level (co trying to clarify); co says it doesn't expect the comps this year that it had last year but says they will be good... stock trading at $67.00, -1.78 in after hours.
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