Abercrombie & Fitch Reports July Sales Results

08/05/04

NEW ALBANY, Ohio, Aug. 5 /PRNewswire-FirstCall/ -- Abercrombie & Fitch (NYSE: ANF) today reported net sales of $143.7 million for the four-week period ended July 31, 2004, an 8% increase over last year's July sales of $133.2 million. July comparable store sales decreased 9% compared with the four-week period ended August 2, 2003.

Year-to-date, the Company reported a net sales increase of 16% to $813.3 million from $702.4 million last year. Comparable store sales declined 3% for the year-to-date period.

The Company said that based on continued margin improvement, tight inventory and expense controls it expects second quarter EPS in the range of $0.42 to $0.44 per diluted share versus $0.35 last year.

Abercrombie & Fitch operated a total of 727 stores at the end of July, including 171 abercrombie stores and 197 Hollister Co. stores. The Company operates e-commerce websites at http://www.abercrombie.com , http://www.abercrombiekids.com , and http://www.hollisterco.com .

To hear Abercrombie & Fitch's prerecorded July sales message, please dial (800) 395-0662, or internationally dial (402) 220-1262.

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, A&F's Form 10-K 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 "RISK FACTORS" in "ITEM 1. BUSINESS" of A&F's Annual Report on Form 10-K for the fiscal year ended January 31, 2004, in some cases have affected and in the future could affect the Company's financial performance and could cause actual results for the 2004 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: changes in consumer spending patterns and consumer preferences; the 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; the impact of competition and pricing; changes in weather patterns; postal rate increases and changes; paper and printing costs; market price of key raw materials; ability to source product from its global supplier base; political stability; currency and exchange risks and changes in existing or potential duties, tariffs or quotas; availability of suitable store locations at appropriate terms; ability to develop new merchandise; and ability to hire, train and retain associates. Future economic and industry trends that could potentially impact revenue and profitability are difficult to predict. Therefore, there can be no assurance that the forward-looking statements included in this Press Release will prove to be accurate. In light of the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other person, that the objectives of the Company will be achieved. The forward-looking statements herein are based on information presently available to the management of the Company. Except as may be required by applicable law, the Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

SOURCE  Abercrombie & Fitch
    -0-                             08/05/2004
    /CONTACT:  Thomas D. Lennox, Director, Investor Relations and Corporate
Communications of Abercrombie & Fitch, +1-614-283-6751/
    /Web site:  http://www.abercrombie.com
                http://www.abercrombiekids.com
                http://www.hollisterco.com /
    (ANF)

CO:  Abercrombie & Fitch
ST:  Ohio
IN:  TEX REA
SU:  SLS

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5040 08/05/2004 08:01 EDT http://www.prnewswire.com

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