A&F Sept. sales drop 7%

NEW ALBANY, Ohio Abercrombie & Fitch reported net sales of $275.4 million for the five-week period ended Oct. 4, a 7% decrease from $297.4 million for the like 2007 period. Comparable-store sales decreased 14%.

"During this time of extraordinary macroeconomic distress, it is important for us to manage the business with a seasoned and disciplined approach that will protect our brands for the long-term and better position them for an eventual turnaround in consumer spending," stated chairman and ceo Mike Jeffries. "We will continue our planned investment in international growth opportunities and avoid promotional pricing. The strength of our brands, together with management's control over all aspects of the company's business, should enable us to emerge from these difficult times stronger than ever."

The company expects net income per diluted share for the third quarter to be in the range of 74 cents to 76 cents.