Abercrombie & Fitch Co. (NYSE:ANF)
July 2008 Sales Call
July 10, 2008 8:15 am ET
Brian Logan – Vice President, Investor Relations
This is Brian Logan, Vice President of Investor Relations and Controller of Abercrombie & Fitch. The following is a summary of our sales results for fiscal month ended July 5, 2008. Before I begin, I remind you that any forward-looking statements I may make are subject to the Safe Harbor statement found in our SEC filing.
Net sales for the 5-week period ended July 5, 2008, were $309.7 million, compared to $293.2 million for the 5-week period ended July 7, 2007. Total company direct to consumer net sales increased to $20.3 million for the 5-week period ended July 5, 2008, a 21% increase of our sales for the 5-week period ended July 7, 2007. June comparable store sales decreased 3%.
By brand, Abercrombie & Fitch comparable store sales increased 3%. Men’s comp increased by a low-teen. Women’s comp decreased by a mid single digit. Transactions per store per week decreased 6% to last year. Average transaction value increased 11%. In the kids business of Abercrombie, comparable store sales decreased 8%. Boys’ comps were up by a low single digit. Girls’ comps were down by a low double digit. Transactions per store decreased 15%. Average transaction value increased 8%.
Hollister comparable store sales decreased 8%. Dude’s comps increased by a mid-single digit. Betty’s comps decreased by a low-teen. Transactions per store decreased 13%. Average transaction value increased 4%.
Ruehl comparable store sales decreased 18%. Men’s comps were down a single digit. Women’s comps were down by low 30s. Transactions per store decreased 32%. Average transaction value increased 5%.
From a merchandize classifications standpoint across all brands, strongest performing masculine categories included knits, fragrance, shorts, and jeans while graphic tees and swim were weaker. In the feminine businesses, jeans and swimwear were strongest while graphic tees and knit tops were weaker. Comps continue to be strongest in US-based tourist stores and international stores, while mall-based comps were strongest in the Southwest and weakest in West and Midwest.
We will announce July sales on Thursday, August 7, 2008.
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