Abercrombie sales drop 13%

New Albany-based Abercrombie & Fitch Co. reported its same-store sales fell 13 percent in the four weeks ended Nov. 30.

Same-store sales are sales from stores open at least a year and are considered an accurate measure of a retailer's performance. Abercrombie's same-store sales are off 7 percent for the year.

Net sales, however, rose 4 percent thanks to new store openings to $158.7 million in November from $152.7 million last year. For the first 11 months of the year, sales are up to $1.2 billion from $1.1 billion in the same period of 2001.

The company reaffirmed its earlier projection that it will earn 79 cents per share for the fourth quarter.

The company operates 593 stores, mostly its core Abercrombie & Fitch brand but also 88 Hollister Co. stores and 166 Abercrombie stores.

© 2002 American City Business Journals Inc.

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