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6301 Fitch Path Website: http://www.abercrombie.com See Website for Career Info Abercrombie & Fitch Co. is a leading specialty retailer encompassing four brands - Abercrombie & Fitch, abercrombie, Hollister Co., and RUEHL. The merchandise is sold in retail stores throughout the United States and through catalogs. The Company operated 352 Abercrombie & Fitch stores, 210 abercrombie stores, 507 Hollister Co. stores, 28 RUEHL stores and 14 Gilly Hicks stores in the United States at the end of January. Stores feature clothing for both men and women and aimed at a younger college audience between the ages of 18-22. Abercrombie is known for its sexy advertising and racy catalogs. For the 52 week fiscal year ended January 31, 2009, the Company reported a net sales decrease of 6% to $3.54 billion from $3.75 billion for the 52 week fiscal year ended February 2, 2008. Total Company direct-to-consumer net sales increased 5% to $271.0 million for the 52 week fiscal year ended January 31, 2009, compared to the 52 week fiscal year ended February 2, 2008. Fiscal 2008 comparable store sales decreased 13%. The company is uncertain on the number of new stores it will open due to the economy. The flagship openings to which the Company is committed in 2009 include Hollister Co. in Soho, Abercrombie & Fitch and abercrombie in Milan and Abercrombie & Fitch in Tokyo. The Company now expects the Abercrombie & Fitch flagship in Copenhagen and the abercrombie flagship in New York to open in 2010. Mike Jeffries, Chief Executive Officer and Chairman of Abercrombie & Fitch Co., said: "The fourth quarter proved to be a catastrophe for the retail industry; a nightmare that included unprecedented promotional activity by other retailers in the malls and consumers who continued to show reluctance to spend, especially for premium brands. However, despite the unprecedented volatility, we are satisfied with our results for the quarter. Our comparable store sales decrease was lower than we had projected, our earnings per diluted share, excluding the effect of one-time items, exceeded our guidance and we maintained the aspirational nature of all of our brands. As we look toward 2009, we continue to see a tumultuous environment. We will again rely on our ability to manage the aspects of the business that are under our control and continue to protect and position our brands for more promising times." History In 1892, David Abercrombie opened his waterfront shop, Abercrombie Co. at No. 36 South Street in Manhattan. In 1900, Ezra Fitch was a regular shopper at Abercrombie and would leave his law practice to become a partner in the store, which had moved to larger quarters at 314 Broadway. In 1904, the store is incorporated as Abercrombie & Fitch and given an outdoors feel with tents pitched on the floor and a campfire in one corner. Clerks were real outdoorsment dedicated to helping customers. In 1909, the company's first catalog was published with 456 pages and mailed to 50,000 customers around the world. Sports clothes for women were introduced in 1910. The Limited Company would buy Abercrombie & Fitch in 1988. The company would be spun off from the Limited as an independent company and went public on Sept. 26, 1996. Updated February 23, 2009 |