NEW ALBANY, Ohio, Aug. 17 /PRNewswire-FirstCall/ -- Abercrombie
& Fitch Co. (NYSE: ANF) today reported unaudited results which
reflected net income of $19.5 million
and net income per diluted share of $0.22 for the thirteen weeks ended July 31, 2010, compared to a net loss of
$26.7 million and a net loss per
basic and diluted share of $0.30 for
the thirteen weeks ended August 1,
2009. Net income for the thirteen weeks ended
July 31, 2010 included a non-cash
asset impairment charge associated with expected store closures of
$0.02 per diluted share. Net
loss for the thirteen weeks ended August 1,
2009 included a net loss per basic and diluted share of
$0.21 from discontinued operations.
Second Quarter Sales Highlights
- Total Company net sales, including direct-to-consumer net
sales, increased 17% to $745.8
million
- Total Company domestic net sales, including direct-to-consumer
net sales, increased 8% to $612.6
million
- Total Company international net sales, including
direct-to-consumer net sales, increased 85% to $133.2 million
- Comparable store sales increased 5%
- Total Company direct-to-consumer net merchandise sales
increased 50% to $69.0 million
- Abercrombie & Fitch net sales of $335.6 million; Abercrombie & Fitch
comparable store sales increased 8%
- abercrombie kids net sales of $79.1
million; abercrombie kids comparable store sales increased
3%
- Hollister Co. net sales of $322.2
million; Hollister Co. comparable store sales increased
2%
Mike Jeffries, Chief Executive
Officer and Chairman of the Board of Abercrombie & Fitch Co.,
said:
"We are pleased with the progress we are making as we pursue our
strategy of leveraging the international appeal of our iconic
brands to build a highly profitable, sustainable, global business.
We achieved growth both domestically and internationally
during the quarter. We are gaining traction and are very
excited by what we see ahead of us."
Second Quarter Financial Results
Net sales for the thirteen weeks ended July 31, 2010 increased 17% to $745.8 million from $637.2
million for the thirteen weeks ended August 1, 2009. Total Company direct-to-consumer
net merchandise sales increased 50% to $69.0
million for the thirteen week period ended July 31, 2010. Total Company second quarter
comparable store sales increased 5%.
The gross profit rate for the second quarter was 65.1%, 150
basis points lower than last year's second quarter gross profit
rate. The decrease in gross profit rate was primarily driven by a
15% decrease in average unit retail.
Stores and distribution expense, as a percentage of net sales,
decreased to 48.9% from 52.1% for the second quarter. For the
thirteen weeks ended July 31, 2010,
stores and distribution expense included a non-cash pre-tax asset
impairment charge associated with expected store closures of
$2.2 million, or 0.3% of net sales.
The decrease in the stores and distribution expense rate was
primarily driven by lower store occupancy costs as a percentage of
net sales.
Marketing, general and administrative expense for the second
quarter was $95.2 million, a 10%
increase compared to $86.7 million
during the same period last year. The increase in marketing,
general and administrative expense was primarily due to increases
in compensation and benefits, including incentive and equity
compensation, partially offset by a reduction in net legal and
outside service expense.
The effective tax rate for continuing operations for the
thirteen weeks ended July 31, 2010
was 27.2% as compared to 176.8% for the prior year comparable
period. The second quarter 2010 rate was favorably impacted
by provision-to-return adjustments for certain jurisdictions and
the resolution of open tax matters. The second quarter 2009 rate
was adversely impacted by a true up of the estimated annual
effective tax rate as calculated in accordance with generally
accepted accounting principles.
The Company ended the second quarter of Fiscal 2010 with
$613.6 million in cash and cash
equivalents, borrowings under the credit agreement of $53.2 million and outstanding letters of credit
of $24.4 million compared to
$366.5 million in cash and cash
equivalents, borrowings under the credit agreement of $36.7 million and outstanding letters of credit
of $42.9 million at the comparable
point last year.
2010 Outlook
In Fiscal 2010, the Company continues to expect 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 expects to open approximately 20 international
mall-based Hollister stores in Fiscal 2010, a reduction from the
prior estimate of approximately 25 stores. The Company has
confirmed plans to open one Abercrombie & Fitch store in
Canada and 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, including its first store in Puerto Rico, three abercrombie kids stores,
three Hollister stores, two Gilly
Hicks stores and five outlet stores.
The Company now expects total capital expenditures to be
approximately $200 million, including
approximately $160 million related to
new stores, store refreshes and remodels, and approximately
$40 million related to information
technology, distribution center and other home office projects.
The Company expects to close approximately 60 domestic stores
over the course of Fiscal 2010, predominantly at the end of the
year. The majority of these closures will be by way of natural
lease expirations. In addition, there are a number of stores
where buy-outs or other closures prior to lease expiration are
expected. Associated with these closures, the Company
incurred a non-cash, pre-tax asset impairment charge of
$2.2 million, included in stores and
distribution expense, for the thirteen weeks ended July 31, 2010.
A summary of store openings and closings for the thirteen and
twenty-six week periods ended July 31,
2010 is included with the financial statement schedules
following this release.
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 September 14, 2010 to shareholders of record at
the close of business on August 27,
2010.
An investor presentation of second quarter results will be
available in the "Investors" section of the Company's website at
www.abercrombie.com at approximately 8:00
AM, Eastern Time, today.
At the end of July Fiscal 2010, the Company operated a total
of 1,098 stores. The Company operated 339 Abercrombie &
Fitch stores, 202 abercrombie kids stores, 509 Hollister Co. stores
and 17 Gilly Hicks stores domestically. The Company also
operated six Abercrombie & Fitch stores, four abercrombie kids
stores and 21 Hollister Co. stores internationally. The Company
operates e-commerce websites at www.abercrombie.com,
www.abercrombiekids.com, www.hollisterco.com and
www.gillyhicks.com.
Today at 8:30 AM, Eastern Time, the Company
will conduct a conference call. Management will discuss the
Company's performance and its plans for the future and will accept
questions from participants. To listen to the live conference call,
dial (888) 211-4434 or internationally at (913) 312-0711. To
listen via the Internet, go to www.abercrombie.com, select the
Investors page and scroll through the Calendar of Events.
Replays of the call will be available shortly after its
completion. The audio replay can be accessed for two weeks
following the reporting date by calling (888) 203-1112 or
internationally at (719) 457-0820 followed by the conference ID
number 4865283; or for 12 months by visiting the
Company's website at www.abercrombie.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
A&F cautions that any forward-looking statements (as such
term is defined in the Private Securities Litigation Reform Act of
1995) contained in this Press Release or made by management of
A&F involve risks and uncertainties and are subject to change
based on various important factors, many of which may be beyond the
Company's control. Words such as "estimate," "project," "plan,"
"believe," "expect," "anticipate," "intend," and similar
expressions may identify forward-looking statements. The
following factors, in addition to those included in the disclosure
under the heading " FORWARD-LOOKING STATEMENTS AND RISK FACTORS" in
"ITEM 1A. RISK FACTORS" of A&F's Annual Report on Form 10-K for
the fiscal year ended January 30,
2010, in some cases have affected and in the future could
affect the Company's financial performance and could cause actual
results for the 2010 fiscal year and beyond to differ materially
from those expressed or implied in any of the forward-looking
statements included in this Press Release or otherwise made by
management: general economic and financial conditions could have a
material adverse effect on the Company's business, results of
operations and liquidity; loss of the services of skilled senior
executive officers could have a material adverse effect on the
Company's business; ability to hire, train and retain qualified
associates could have a material adverse effect on the Company's
business; equity-based compensation awarded under the employment
agreement with the Company's Chief Executive Officer could
adversely impact the Company's cash flows, financial position or
results of operations and could have a dilutive effect on the
Company's outstanding Common Stock; failure to anticipate, identify
and respond to changing consumer preferences and fashion trends in
a timely manner could cause the Company's profitability to decline;
unseasonable weather conditions affecting consumer preferences
could have a material adverse effect on the Company's business;
disruptive weather conditions affecting the consumers' ability to
shop could have a material adverse effect on the Company's
business; the Company's market share may be adversely impacted at
any time by a significant number of competitors; the Company's
international expansion plan is dependent on many factors, any of
which could delay or prevent successful penetration into new
markets and strain its resources; the Company's growth strategy
relies on the addition of new stores, which may strain the
Company's resources and adversely impact current store performance;
the Company may incur costs related to store closures; availability
and market prices of key raw materials could have a material
adverse effect on the Company's business and results of operations;
the interruption of the flow of merchandise from key vendors and
international manufacturers could disrupt the Company's supply
chain; the Company does not own or operate any manufacturing
facilities and therefore depends upon independent third parties for
the manufacture of all its merchandise; the Company's reliance on
two distribution centers domestically located in the same vicinity,
and one distribution center internationally, makes it susceptible
to disruptions or adverse conditions affecting its distribution
centers; the Company's reliance on third parties to deliver
merchandise from its distribution centers to its stores and
direct-to-consumer customers could result in disruptions to its
business; the Company's development of new brand concepts could
have a material adverse effect on the Company's financial condition
or results of operations; fluctuations in foreign currency exchange
rates could adversely impact financial results; the Company's net
sales and inventory levels fluctuate on a seasonal basis, causing
its results of operations to be particularly susceptible to changes
to back-to-school and holiday shopping patterns; the Company's
ability to attract customers to its stores depends heavily on the
success of the shopping centers in which they are located;
comparable store sales will continue to fluctuate on a regular
basis; the Company's net sales are affected by direct-to-consumer
sales; the Company may be exposed to risks and costs associated
with credit card fraud and identity theft; the Company's litigation
exposure could exceed expectations, having a material adverse
effect on the Company's financial condition or results of
operations; the Company's failure to adequately protect its
trademarks could have a negative impact on its brand image and
limit its ability to penetrate new markets; the Company's unsecured
credit agreement includes financial and other covenants that impose
restrictions on its financial and business operations; changes in
taxation requirements could adversely impact financial results; the
Company's inability to obtain commercial insurance at acceptable
prices or failure to adequately reserve for self-insured exposures
might increase expense and adversely impact financial results;
modifications and/or upgrades to information technology systems may
disrupt operations; the Company could suffer if the Company's
computer systems are disrupted or cease to operate effectively;
effects of political and economic events and conditions
domestically, and in foreign jurisdictions in which the Company
operates, including, but not limited to, acts of terrorism or war
could have a material adverse effect on the Company's business;
potential disruption of the Company's business due to the
occurrence of, or fear of, a health pandemic could have a material
adverse effect on the Company's business; changes in the regulatory
or compliance landscape could adversely effect the Company's
business or results of operations; and the Company's operations may
be effected by greenhouse emissions and climate change.
Abercrombie & Fitch
Co.
|
|
Condensed Consolidated
Statements of Income
|
|
(Unaudited)
|
|
Thirteen Weeks Ended July 31,
2010 and Thirteen Weeks Ended August 1, 2009
|
|
(in thousands, except per share
data)
|
|
|
|
|
|
|
|
ACTUAL
|
|
|
|
ACTUAL
|
|
|
|
|
|
2010
|
|
% of Net Sales
|
|
|
|
2009
|
|
% of Net Sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales
|
|
|
|
$
745,798
|
|
100.0%
|
|
|
|
$
637,221
|
|
100.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Goods Sold
|
|
|
|
260,450
|
|
34.9%
|
|
|
|
212,706
|
|
33.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit
|
|
|
|
485,348
|
|
65.1%
|
|
|
|
424,516
|
|
66.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Stores and Distribution
Expense
|
|
|
364,482
|
|
48.9%
|
|
|
|
332,296
|
|
52.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Marketing, General and
Administrative Expense
|
|
95,206
|
|
12.8%
|
|
|
|
86,666
|
|
13.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Operating Income,
Net
|
|
|
(1,900)
|
|
-0.3%
|
|
|
|
(3,333)
|
|
-0.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income
|
|
|
|
27,560
|
|
3.7%
|
|
|
|
8,887
|
|
1.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense (Income),
Net
|
|
|
807
|
|
0.1%
|
|
|
|
(1,779)
|
|
-0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from Continuing Operation
Before Taxes
|
|
26,753
|
|
3.6%
|
|
|
|
10,665
|
|
1.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax Expense for Continuing
Operations
|
|
|
7,274
|
|
1.0%
|
|
|
|
18,856
|
|
3.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) from
Continuing Operations
|
|
|
19,479
|
|
2.6%
|
|
|
|
(8,191)
|
|
-1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss from Discontinued
Operations (net of taxes)
|
|
-
|
|
0.0%
|
|
|
|
(18,557)
|
|
-2.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss)
|
|
|
|
$
19,479
|
|
2.6%
|
|
|
|
$
(26,747)
|
|
-4.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Per Share from
Continuing Operations:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
0.22
|
|
|
|
|
|
$
(0.09)
|
|
|
|
Diluted
|
|
|
|
$
0.22
|
|
|
|
|
|
$
(0.09)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss Per Share from
Discontinued Operations:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
-
|
|
|
|
|
|
$
(0.21)
|
|
|
|
Diluted
|
|
|
|
$
-
|
|
|
|
|
|
$
(0.21)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Per
Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
0.22
|
|
|
|
|
|
$
(0.30)
|
|
|
|
Diluted
|
|
|
|
$
0.22
|
|
|
|
|
|
$
(0.30)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Shares
Outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
88,220
|
|
|
|
|
|
87,878
|
|
|
|
Diluted
|
|
|
|
89,386
|
|
|
|
|
|
87,878
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch
Co.
|
|
Condensed Consolidated
Statements of Income
|
|
(Unaudited)
|
|
Twenty-Six Weeks Ended July 31,
2010 and Twenty-Six Weeks Ended August 1, 2009
|
|
(in thousands, except per share
data)
|
|
|
|
|
|
|
|
|
|
|
ACTUAL
|
|
|
|
ACTUAL
|
|
|
|
|
|
2010
|
|
% of Net Sales
|
|
|
|
2009
|
|
% of Net Sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales
|
|
|
|
$
1,433,602
|
|
100.0%
|
|
|
|
$
1,238,951
|
|
100.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Goods Sold
|
|
|
|
516,838
|
|
36.1%
|
|
|
|
432,982
|
|
34.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit
|
|
|
|
916,764
|
|
63.9%
|
|
|
|
805,969
|
|
65.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Stores and Distribution
Expense
|
|
|
718,892
|
|
50.1%
|
|
|
|
662,606
|
|
53.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Marketing, General and
Administrative Expense
|
|
191,838
|
|
13.4%
|
|
|
|
173,011
|
|
14.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Operating Income,
Net
|
|
|
(2,814)
|
|
-0.2%
|
|
|
|
(4,657)
|
|
-0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income
(Loss)
|
|
|
8,848
|
|
0.6%
|
|
|
|
(24,991)
|
|
-2.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense (Income),
Net
|
|
|
1,632
|
|
0.1%
|
|
|
|
(3,153)
|
|
-0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Continuing
Operation Before Taxes
|
|
7,216
|
|
0.5%
|
|
|
|
(21,839)
|
|
-1.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax (Benefit) Expense for
Continuing Operations
|
|
(435)
|
|
0.0%
|
|
|
|
9,456
|
|
0.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) from
Continuing Operations
|
|
|
7,651
|
|
0.5%
|
|
|
|
(31,295)
|
|
-2.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss from Discontinued
Operations (net of taxes)
|
|
-
|
|
0.0%
|
|
|
|
(54,692)
|
|
-4.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss)
|
|
|
|
$
7,651
|
|
0.5%
|
|
|
|
$
(85,986)
|
|
-6.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Per Share from
Continuing Operations:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
0.09
|
|
|
|
|
|
$
(0.36)
|
|
|
|
Diluted
|
|
|
|
$
0.09
|
|
|
|
|
|
$
(0.36)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss Per Share from
Discontinued Operations:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
-
|
|
|
|
|
|
$
(0.62)
|
|
|
|
Diluted
|
|
|
|
$
-
|
|
|
|
|
|
$
(0.62)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) Per
Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
0.09
|
|
|
|
|
|
$
(0.98)
|
|
|
|
Diluted
|
|
|
|
$
0.09
|
|
|
|
|
|
$
(0.98)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Shares
Outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
88,157
|
|
|
|
|
|
87,788
|
|
|
|
Diluted
|
|
|
|
89,561
|
|
|
|
|
|
87,788
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch
Co.
|
|
Condensed Consolidated Balance
Sheets
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
(Unaudited)
July 31, 2010
|
|
January 30, 2010
|
|
|
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
|
|
Cash and Equivalents
|
|
|
$
613,633
|
|
$
680,113
|
|
|
Marketable Securities
|
|
|
-
|
|
32,356
|
|
|
Receivables
|
|
|
83,777
|
|
90,865
|
|
|
Inventories
|
|
|
480,128
|
|
310,645
|
|
|
Deferred Income Taxes
|
|
56,025
|
|
44,570
|
|
|
Other Current Assets
|
|
|
85,083
|
|
77,297
|
|
|
|
|
|
|
|
|
|
Total Current Assets
|
|
|
1,318,646
|
|
1,235,846
|
|
|
|
|
|
|
|
|
|
Property and Equipment,
Net
|
|
|
1,204,349
|
|
1,244,019
|
|
|
|
|
|
|
|
|
|
Non-Current Marketable
Securities
|
|
127,536
|
|
141,794
|
|
|
|
|
|
|
|
|
|
Other Assets
|
|
|
206,332
|
|
200,207
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS
|
|
|
$
2,856,863
|
|
$
2,821,866
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities
|
|
|
|
|
|
|
|
Accounts Payable and Outstanding
Checks
|
|
$
205,025
|
|
$
150,134
|
|
|
Accrued Expenses
|
|
|
238,425
|
|
246,289
|
|
|
Deferred Lease
Credits
|
|
43,361
|
|
43,597
|
|
|
Income Taxes Payable
|
|
|
31,229
|
|
9,352
|
|
|
|
|
|
|
|
|
|
Total Current
Liabilities
|
|
|
518,040
|
|
449,372
|
|
|
|
|
|
|
|
|
|
Long-Term Liabilities
|
|
|
|
|
|
|
|
Deferred Income Taxes
|
|
47,649
|
|
47,142
|
|
|
Deferred Lease
Credits
|
|
202,949
|
|
212,052
|
|
|
Long-term Debt
|
|
|
75,967
|
|
71,213
|
|
|
Other Liabilities
|
|
|
192,561
|
|
214,170
|
|
|
|
|
|
|
|
|
|
Total Long-Term
Liabilities
|
|
|
519,126
|
|
544,577
|
|
|
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
|
|
1,819,697
|
|
1,827,917
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
AND
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
$
2,856,863
|
|
$
2,821,866
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch
Co.
|
|
Store Count
|
|
(Unaudited)
|
|
Thirteen and Twenty-Six Week
Periods Ended July 31, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Activity
|
|
Abercrombie &
Fitch
|
|
abercrombie
|
|
Hollister
|
|
Gilly Hicks
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 1, 2010
|
|
347
|
|
209
|
|
528
|
|
16
|
|
1,100
|
|
New
|
|
1
|
|
1
|
|
2
|
|
1
|
|
5
|
|
Remodels/Conversions (net
activity)
|
|
1
|
|
-
|
|
-
|
|
-
|
|
1
|
|
Closed
|
|
(4)
|
|
(4)
|
|
-
|
|
-
|
|
(8)
|
|
July 31, 2010
|
|
345
|
|
206
|
|
530
|
|
17
|
|
1,098
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 30, 2010
|
|
346
|
|
209
|
|
525
|
|
16
|
|
1,096
|
|
New
|
|
3
|
|
2
|
|
6
|
|
1
|
|
12
|
|
Remodels/Conversions (net
activity)
|
|
1
|
|
-
|
|
-
|
|
-
|
|
1
|
|
Closed
|
|
(5)
|
|
(5)
|
|
(1)
|
|
-
|
|
(11)
|
|
July 31, 2010
|
|
345
|
|
206
|
|
530
|
|
17
|
|
1,098
|
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE Abercrombie & Fitch Co.
Copyright . 17 PR Newswire