Abercrombie & Fitch Reports January Sales; Company Will Exceed Previous EPS Guidance

02/07/02

NEW ALBANY, Ohio, Feb 7, 2002 /PRNewswire/ -- Abercrombie & Fitch (NYSE: ANF) today reported net sales of $64.3 million for the four-week period ended February 2, 2002, compared to last year's net sales for January of $77.7 million. January 2001 was a five-week month. Comparable store sales decreased 14% for the four-week period compared with last year's comparable four-week period ending February 3, 2001.

For the 2001 fiscal year, the Company reported a net sales increase of 10% to $1.365 billion from $1.238 billion last year. Comparable store sales were down 9% for the year.

The Company said that due to the success of its inventory and expense controls, it now expects earnings per share for the fourth quarter to exceed its previous guidance of $0.70 per diluted share.

A lifestyle brand, Abercrombie & Fitch operated a total of 491 stores at the end of fiscal January, including 148 abercrombie stores and 34 Hollister Co. stores. The Company also operates an adult e-commerce website at www.abercrombie.com , a kids' e-commerce website at www.abercrombiekids.com and publishes the A&F Quarterly.

To hear Abercrombie & Fitch's prerecorded January sales message, please dial (800) 642-1687, followed by the conference identification number 135619.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:

The Company cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this Release, the Company's Form 10-K or made by management of the Company involve risks and uncertainties, and are subject to change based on various important factors. The following factors, among others, in some cases have affected and in the future could affect the Company's financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any such forward-looking statements: change in consumer spending patterns, consumer preferences and overall economic conditions, the impact of competition and pricing, changes in weather patterns, political stability, currency and exchange risks and changes in existing or potential duties, tariffs or quotas, postal rate increases and charges, paper and printing costs, availability of suitable store locations at appropriate terms, ability to develop new merchandise and ability to hire and train associates.

SOURCE Abercrombie & Fitch

CONTACT:          Thomas D. Lennox, Senior Manager, Investor Relations and
                  Corporate Communications of Abercrombie & Fitch, +1-614-283-6751

URL:              http://www.abercrombie.com

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