Abercrombie & Fitch Reports Aboriginal Division After-effects Reflecting a Net Loss

abercrombie and fitch Co. (NYSE: ANF) today appear unaudited aboriginal division after-effects which reflected a net accident of $26.8 actor and a net accident per basal and adulterated allotment of $0.31 for the thirteen weeks concluded May 2, 2009, compared to net assets of $62.1 actor and net assets per adulterated allotment of $0.69 for the thirteen weeks concluded May 3, 2008.

The unaudited banking after-effects for the thirteen weeks concluded May 2, 2009 do not cover a non-cash crime charge, that is currently getting bent and is to be recorded in annual of the aboriginal quarter, associated with a cardinal analysis of the Ruehl business as further

described in this columnist release. The crime allegation will be reflected in the abridged circumscribed banking statements filed with abercrombie and fitch Co.'s Annual Report on Form 10-Q for the budgetary division concluded May 2, 2009.

Aboriginal Division Sales Highlights

-- Absolute Company net sales decreased 24% to $612.1 million; commensurable abundance sales decreased 30%

-- Absolute direct-to-consumer net sales decreased 21% to $49.1 million

-- Abercrombie & Fitch net sales of $264.7 million; Abercrombie & Fitch commensurable abundance sales decreased 26%

-- abercrombie net sales of $69.1 million; abercrombie commensurable abundance sales decreased 33%

-- Hollister Co. net sales of $262.4 million; Hollister Co. commensurable abundance sales decreased 32%

-- RUEHL net sales of $10.4 million; RUEHL commensurable abundance sales decreased 34%

Mike Jeffries, Chief Executive Officer and Chairman of the Board of

abercrombie and fitch Co., said:

"The aboriginal division was acutely a difficult one for us. With a arduous bread-and-butter environment, the customer continues to appearance a abhorrence to absorb on exceptional brands; a bulk alertness dictating arcade habits clashing annihilation I accept anytime seen. We accept this is a acting abnormality but will access the accepted altitude with a bourgeois mindset until we see a bright improvement. This year will be a capricious year for us as we abide to focus our efforts on laying the background for our continued appellation success and abundance by attention our brands, attention banknote and advancing our all-embracing advance opportunities."

Aboriginal Division 2009 Banking Results

Net sales for the thirteen weeks concluded May 2, 2009 decreased 24% to $612.1 actor from $800.2 actor for the thirteen weeks concluded May 3, 2008. Absolute Company direct-to-consumer net sales decreased 21% to $49.1 actor for the thirteen anniversary aeon concluded May 2, 2009, compared to the thirteen anniversary aeon concluded May 3, 2008. Absolute Company aboriginal division commensurable abundance sales decreased 30%.

The gross accumulation bulk for the division was 63.3%, 350 base credibility lower than endure year's aboriginal quarter. The abatement in gross accumulation bulk was attributable to a college markdown bulk for this year's aboriginal quarter.

Food and administration expense, as a allotment of sales, added to 55.8% from 42.7%, afore demography into annual the non-cash crime allegation currently getting bent in affiliation with the cardinal analysis of the Ruehl business. Although the Company was able to accomplish accumulation in abundance payroll, absolute to customer and added capricious expenses, the abridgement in those costs was beneath than the bulk of the sales abatement and not abundant to annual increases in rent, abrasion and added control costs. The access in rent, abrasion and added control costs was primarily attributable to new abundance openings during 2008 and an access in pre-opening hire expense. Food and administration bulk for the aboriginal quarter, afore demography into annual the non-cash crime charge, was $341.9 actor compared to $341.8 actor during the aforementioned aeon endure year.

Marketing, accepted and authoritative bulk for the aboriginal division was $89.5 actor compared to $104.7 actor during the aforementioned aeon endure year, afore demography into annual the non-cash crime allegation currently getting bent in affiliation with the cardinal analysis of the Ruehl business. The abridgement in marketing, accepted and authoritative bulk includes accumulation accompanying to agent advantage and benefits, travel, alfresco casework and marketing.

Net absorption assets for the aboriginal division decreased to $1.4 actor compared to $7.6 actor during the aforementioned aeon endure year. The abatement was primarily attributable to a lower boilerplate bulk of acknowledgment on investments compared to endure year.

The able tax bulk for the aboriginal division was a annual of 34.7% compared to an bulk of 36.8% for the aforementioned aeon endure year, afore demography into annual the non-cash crime allegation currently getting bent in affiliation with the cardinal analysis of the Ruehl business.

The Company concluded the aboriginal division with $463.7 actor in banknote and banknote equivalents, and outstanding debt and belletrist of acclaim of $143.0 million.

Added Developments

The Company appear today that it is administering a cardinal analysis of its Ruehl operation, the aftereffect of which has not been bent at this time. However, based on this analysis and on the requirements of Statement of Banking Accounting Standards No. 144, Accounting for the Crime or Disposal of Long-Lived Assets, the Company has bent that it is adapted to almanac a non-cash crime allegation for the budgetary quarter

ended May 2, 2009. The bulk of this allegation is in the action of getting bent and is not reflected in the accompanying abridged circumscribed banking statements for the budgetary division concluded May 2, 2009, but will be reflected in the abridged circumscribed banking statements included inabercrombie and fitch Co.'s Annual Report on Form 10-Q for the budgetary division concluded May 2, 2009 to be filed with the Securities and Exchange Commission on or afore June 11, 2009. The best bulk of the allegation is about $55 actor afore taxes, apery the accepted net book amount of abiding assets associated with Ruehl operations. The Annual Report on Form 10-Q for the budgetary division concluded May 2, 2009 will reflect the appropriate abridgement in acreage and accessories and added assets and the

related non-cash crime charge, which will access food and administration expense, marketing, accepted and authoritative expense, operating loss, assets tax benefit, net accident and net accident per basal and adulterated share. In accession to the crime charge, the aftereffect of the

Ruehl cardinal analysis may aftereffect in added accuse in approaching periods, which could be material.

The Company accepted that it has entered into a new charter for the abercrombie 5th Avenue flagship abundance in New York, replacing the above-mentioned lease. The new amplitude is adjoining to the antecedent space, offers added abundance frontage and has charter agreement which are added favorable for the Company. The abundance is accepted to accessible in 2010.

The Company charcoal on clue to accessible four flagship food in budgetary 2009 including Hollister Co. in Soho, Abercrombie & Fitch and abercrombie in Milan and Abercrombie & Fitch in Tokyo.

Internationally, the Company now expects to accessible ten mall-based food in budgetary 2009, including one abercrombie abundance in Canada, seven Hollister Co. food in the United Kingdom, one Hollister Co. abundance in Germany and one Hollister Co. abundance in Italy.

Domestically, the Company now expects to accessible ten mall-based food in budgetary 2009, including two abercrombie stores, four Hollister Co. stores, two Gilly Hicks food and two aperture stores.

Based on the advancing openings, the Company now expects absolute basic expenditures to be about $200 million, including about $155 actor accompanying to new stores, abundance refreshes and remodels, and about $45 actor accompanying to advice technology, administration centermost and added home appointment projects. The access in the basic expenditures from the ahead appear ambit of $165 to $175 actor includes the aftereffect of added food the Company expects to accessible during budgetary 2009 and basic expenditures accepted to be incurred after in the year associated with 2010 openings. The Company expects the access in basic expenditures to be partially annual by an access in

landlord architecture allowances.

The Board of Directors declared a annual banknote allotment of $0.175 per allotment on the Class A Common Stock of Abercrombie & Fitch Co. payable on June 16, 2009 to shareholders of almanac at the abutting of business on May 29, 2009.

At the end of the aboriginal quarter, the Company operated 350 Abercrombie & Fitch stores, 209 abercrombie stores, 507 Hollister Co. stores, 29 RUEHL food and 16 Gilly Hicks food in the United States. The Company aswell operated three Abercrombie & Fitch stores, three abercrombie food and 5 Hollister Co. food in Canada, and one Abercrombie & Fitch abundance and three Hollister Co. food in the United Kingdom. The Company operates

e-commerce websites at http://www.abercrombie.com,