March sales plummet at Abercrombie & Fitch

April 11, 2008 - United States Of America

Abercrombie & Fitch reported net sales of $330.2 million for the five-week period ended April 5, 2008, compared to net sales of $331.2 million for the five-week period ended April 7, 2007.

March comparable store sales decreased 10%. Total Company direct-to-consumer net sales increased 45% to $25.6 million for the five-week period ended April 5, 2008, compared to the five-week period ended April 7, 2007.

March comparable store sales were adversely affected by shifts in the Easter and Spring Break calendars, which were two weeks earlier compared to last year.

Year-to-date, the Company reported a net sales increase of 4% to $559.1 million from $537.8 million last year. Comparable store sales decreased 7% for the year-to-date period. Year-to-date, total Company direct-to-consumer net sales increased 43% to $42.5 million.

March 2008 Developments:
• Total Company net sales of $330.2 million
• Total Company direct-to-consumer net sales increased 45%
• Total Company comparable store sales decreased 10%
• Abercrombie & Fitch comparable store sales decreased 2%
• abercrombie comparable store sales decreased 14%
• Hollister Co. comparable store sales decreased 16%
• RUEHL comparable store sales decreased 21%

The Company operated 353 Abercrombie & Fitch stores, 200 abercrombie stores, 455 Hollister Co. stores, 22 RUEHL stores and five Gilly Hicks stores in the United States at the end of fiscal March. The Company also operated three Abercrombie & Fitch stores and three Hollister Co. stores in Canada and one Abercrombie & Fitch flagship in London, England.