Oct. Comps Down 15% - Update

The New Albany, Ohio headquartered company that owns Abercrombie & Fitch

, abercrombie, Hollister and RUEHL brands, reported October net sales of $203.4 million, a 5% decline when compared to $215.0 million recorded in the same period a year ago.

Total company direct-to-consumer net merchandise sales increased 24% to $22.0 million.

For September 2009, the company reported an 18% decline in comparable store sales, while net sales declined 10% to $248.2 million. The company's comparable sales for August 2009 declined 29%, while net sales declined 23% to $313.9 million.

Brand-wise in October, Abercrombie & Fitch comparable store sales decreased 8% and latex body comparable store sales decreased 17%. Hollister Co. October comparable store sales decreased 21% and RUEHL comparable store sales decreased 23%.

Quarter-to-date, the company reported a 22% decline in comparable store sales and a 11% decline in total company direct-to-consumer net merchandise sales at $63.9 million. Net sales for the quarter-to-date period declined 15% to $765.5 million from $896.3 million last year.

For the preceding second quarter of 2009, the company's net sales declined 5% to $657.60 million from $688.82 million in the prior year quarter. Comparable store sales decreased 10% for the quarter, compared to a 9% decline last year.

Comparable store sales for the year-to-date period ended October 31, 2009 decreased 27%. Total company direct-to-consumer net merchandise sales decreased 8% to $161.6 million. Year-to-date net sales were $2.026 billion, down 20% from $2.542 billion a year ago.

In the previous year-to-date period ended September 2009, the company's net sales decreased 22% to $1.823 billion from $2.327 billion in the same period last year. Comparable store sales for the period declined 28% from the year-ago period, while total company direct-to-consumer net merchandise sales decreased 12% year-over-year to $139.6 million.

At month end, the company operated 347 Abercrombie & Fitch stores, 209 abercrombie stores, 509 Hollister Co. stores, 27 RUEHL stores and 16 Gilly Hicks stores in the United States. The company also operated three Abercrombie & Fitch stores, three abercrombie stores and six Hollister Co. stores in Canada, one Abercrombie & Fitch store and seven Hollister Co. stores in the United Kingdom, and one Abercrombie & Fitch store and one abercrombie store in Italy. The company operates e-commerce websites as well.

by: ada

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