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abercrombie kids comparable store sales up
19
May '10
The Company ended the first quarter of Fiscal 2010 with $600.4 million in cash and cash equivalents, borrowings under the credit agreement of $49 million and outstanding letters of credit of $45.6 million compared to $463.7 million in cash and cash equivalent, borrowings under the credit agreement of $100.0 million and outstanding letters of credit of $43 million at the comparable point last year.

2010 Outlook
In Fiscal 2010, the Company expects to open Abercrombie & Fitch flagship stores in Copenhagen, Denmark and Fukuoka, Japan and a Hollister Epic store on Fifth Avenue in New York.

The Company now has confirmed plans to open approximately 25 international mall-based Hollister stores in Fiscal 2010 as well as one Abercrombie & Fitch store in Canada. In addition, the Company now has confirmed plans to open its first international Gilly Hicks store in the United Kingdom in the fourth quarter of Fiscal 2010.

Domestically, the Company expects to open three Abercrombie & Fitch stores, two abercrombie kids stores, three Hollister stores, two Gilly Hicks stores and five outlet stores.

Based on current new store plans and other planned expenditures, the Company now expects total capital expenditures to be in the range of $200 million to $225 million, including $165 million to $190 million related to new stores, store refreshes and remodels, and approximately $35 million related to information technology, distribution center and other home office projects.

Other Developments
The Board of Directors declared a quarterly cash dividend of $0.175 per share on the Class A Common Stock of Abercrombie & Fitch Co. payable on June 15, 2010 to shareholders of record at the close of business on May 28, 2010.

The Company announced plans to open an Abercrombie & Fitch flagship store in Madrid, Spain in Fiscal 2011.

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