Abercrombie & Fitch (ANF) Comps Down 19% for December 2009

Abercrombie & Fitch (NYSE: ANF) today reported net sales of $482.5 million for the five-week period ended January 2, 2010, an 11% decrease from net sales of $539.2 million for the five-week period ended January 3, 2009. December comparable store sales decreased 19%. Total Company direct-to-consumer net merchandise sales decreased 4% to $44.0 million.

Year-to-date, the Company reported a net sales decrease of 18% to $2.754 billion from $3.349 billion last year. Comparable store sales decreased 25% for the year-to-date period. Year-to-date, total Company direct-to-consumer net merchandise sales decreased 6% to $230.1 million.

During fiscal November and December, the Company conducted special events in most of its North American stores and direct-to-consumer channels in which complimentary gift cards, redeemable on or before January 30, 2010, were issued to customers who made purchases above defined amounts. The value of these gift cards issued but not redeemed has been deducted from reported sales for the applicable month. The cumulative face value of gift cards issued in connection with these special events, but not yet redeemed as of the end of fiscal December, was approximately $22 million.

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