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ANF Preview: In a Same-Store Sales Slump

By Scott Rothbort

 About this article:
 Abercrombie & Fitch (ANF) is scheduled to report third-quarter 2009 results and conduct its conference call before the market opens on Friday. The company is expected to report a dramatic year-over-year decline in earnings from 72 cents a share in third quarter 2008 to 20 cents a share in third quarter 2009. Net sales are also expected to plummet by nearly 15%, to $764.5 million. Same-store sales declines have really battered this teen retailer for well over a year. In the past quarter, same-store sales fell 29% in August, 18% in September and 15% in October. The silver lining, if there is one, is that the declines have diminished sequentially. Put very simply, Abercrombie & Fitch is looking overseas while perhaps ignoring its core constituency here in the U.S. Perhaps it is the other way around: The core constituency is abandoning Abercrombie & Fitch for other retailers such as...

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