25 On March 27, 2003, there were approximately 5,000 share- holders 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 esti- mates the shareholder base at approximately 55,000. 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 2002 and 2001 fiscal years: certain affiliated persons) will be entitled to purchase, upon exercise of the Right, shares of Common Stock having a mar- ket value two times the exercise price of the Right. At any time after any person becomes an Acquiring Person (but before any person becomes the beneficial owner of 50% or more of the out- standing shares), A&F’s Board of Directors may exchange all or part of the Rights (other than Rights beneficially owned by an Acquiring Person and certain affiliated persons) for shares of Common Stock at an exchange ratio of one share of Common Stock per Right. In the event that, at any time following the Share Acquisition Date, A&F is acquired in a merger or other business combination transaction in which A&F is not the sur- viving corporation, the Common Stock is exchanged for other securities or assets or 50% or more of A&F’s assets or earning power is sold or transferred, the holder of a Right will be enti- tled to buy, for the exercise price of the Rights, the number of shares of Common Stock of the acquiring company which at the time of such transaction will have a market value of two times the exercise price of the Right. The Rights, which do not have any voting rights, expire on July 16, 2008, and may be redeemed by A&F at a price of $.01 per whole Right at any time before a person becomes an Acquiring Person. Rights holders have no rights as a shareholder of A&F, including the right to vote and to receive dividends. Summarized quarterly financial results for 2002 and 2001 fol- low (thousands except per share amounts): 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 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 Sales Price High Low 2002 Fiscal Year  4th Quarter $27.84 $17.76 3rd Quarter $25.18 $15.92 2nd Quarter $33.00 $20.51 1st Quarter $33.30 $23.04 2001 Fiscal Year  4th Quarter $30.40 $18.06 3rd Quarter $38.50 $16.21 2nd Quarter $47.50 $33.10 1st Quarter $37.90 $26.28 A&F has not paid dividends on its shares of Class A Common Stock in the past and does not presently plan to pay dividends on the shares. It is presently anticipated that earnings will be retained and reinvested to support the growth of the Company’s business. The payment of any future dividends on shares will be determined by the A&F Board of Directors in light of conditions then existing, including earnings, financial condition and capi- tal requirements, restrictions in financing agreements, business conditions and other factors. 14. QUARTERLY FINANCIAL DATA (UNAUDITED) 2001 Quarter First Second Third Fourth Net sales $263,680 $280,116 $354,473 $466,584 Gross income 97,840 108,327 143,403 208,464 Net income  20,603 25,038 43,863 79,168 Net income per basic share $.21 $.25 $.44 $.80 Net income per diluted share $.20 $.24 $.43 $.78 Abercrombie &Fitch