A&F sets sights on Europe

NEW ALBANY, Ohio Abercrombie & Fitch today announced that it plans to expand its retail presence throughout Europe. The company is in the process of securing locations in Italy, France, Germany, Spain, Denmark and Sweden and plans to identify additional key locations in the United Kingdom. The expansion follows the opening of the first Abercrombie & Fitch flagship in Europe, at 7 Burlington Gardens, London.

"We have been evaluating the European markets for some time and it is clear that the demand for the Abercrombie & Fitch brand is very strong," stated Mike Jeffries, ceo and chairman of the board of Abercrombie & Fitch Co. "We believe that now is the ideal time for us to execute our international growth strategy with expansion throughout Europe.

Abercrombie & Fitch's plans to increase its presence in Europe comes on the heels of a solid June performance. For the five-week period ended July 7, the company reported net sales of $293.2 million, a 21% increase over net sales of $243 million for the five-week period ended July 1, 2006. June comparable-store sales increased 2% for the five-week period ended July 7, compared to the five-week period ended July 8, 2006.

Year-to-date, the company reported a net sales increase of 15% to $1.25 billion from $1.09 billion last year. Comparable-store sales decreased 3% for the year-to-date period. Year-to-date, total company direct-to-consumer net sales increased 51% to $73.1 million.