Exhibit 99.1

Exhibit 99.1

ABERCROMBIE & FITCH REPORTS THIRD QUARTER RESULTS

BOARD OF DIRECTORS DECLARES QUARTERLY DIVIDEND OF $0.175

New Albany, Ohio, November 13, 2009: Abercrombie & Fitch Co. (NYSE: ANF) today reported unaudited third quarter results which reflected net income of $38.8 million and net income per diluted share of $0.44 for the thirteen weeks ended October 31, 2009, compared to net income of $63.9 million and net income per diluted share of $0.72 for the thirteen weeks ended November 1, 2008. Excluding $6.2 million of after-tax charges associated with the closure of the Ruehl business and an $18.6 million benefit associated with a true up of the year-to-date tax rate, the Company reported non-GAAP net income of $26.3 million and non-GAAP net income per diluted share of $0.30 for the thirteen weeks ended October 31, 2009. A reconciliation of the GAAP to non-GAAP financial measures is summarized in the table accompanying the condensed consolidated financial statements included with this press release.

Third Quarter Sales Highlights

	•		Total Company net sales decreased 15% to $765.4 million; comparable store sales decreased 22%

	•		Total Company direct-to-consumer net sales increased 11% to $63.9 million

	•		Abercrombie & Fitch net sales of $324.3 million; Abercrombie & Fitch comparable store sales decreased 18%

	•		abercrombie kids net sales of $90.8 million; abercrombie kids comparable store sales decreased 22%

	•		Hollister Co. net sales of $333.4 million; Hollister Co. comparable store sales decreased 26%

	•		RUEHL net sales of $11.7 million; RUEHL comparable store sales decreased 30%

Mike Jeffries, Chief Executive Officer and Chairman of the Board of Abercrombie & Fitch Co., said:

“During the quarter, we made advances in our international strategy with the opening of a flagship location in Italy as well as additional Hollister mall-based stores in the United Kingdom. The passion and enthusiasm from the international customer that greeted us at these openings encourage us in our long-term strategy of aggressively pursuing international growth for our brands.”

Third Quarter 2009 Financial Results

Net sales for the thirteen weeks ended October 31, 2009 decreased 15% to $765.4 million from $896.3 million for the thirteen weeks ended November 1, 2008. Total Company direct-to-consumer net sales increased 11% to $63.9 million for the thirteen week period ended October 31, 2009, compared to the thirteen week period ended November 1, 2008. Total Company third quarter comparable store sales decreased 22%.

The gross profit rate for the quarter was 63.6%, 240 basis points lower than last year’s third quarter gross profit rate. The decrease in gross profit rate was primarily driven by a lower average unit retail, partially off-set by a reduction in average unit cost and a benefit from other gross margin items.

Stores and distribution expense, as a percentage of sales, increased to 48.3% from 43.1% for the same period last year. The increase was attributable to higher store occupancy costs, including rent, depreciation and other occupancy costs, as well as $10.1 million of pre-tax charges associated with the closure of the Ruehl business, primarily due to lease buy-out costs.

Marketing, general and administrative expense for the third quarter was $88.1 million, compared to $105.0 million during the same period last year. Marketing, general and administrative expense reflects reductions related to employee compensation and benefits, travel, outside services and marketing, and the benefit of an insurance settlement.

Income before income taxes for the third quarter was $29.9 million, inclusive of $10.1 million pre-tax charges associated with the closure of the Ruehl business.

Income tax benefit for the third quarter was $8.9 million. The third quarter income tax provision reflects a benefit of $2.2 million, primarily from the settlement of state tax audits, along with an $18.6 million benefit associated with a true up of the year-to-date tax rate. The Company has computed its provision for income taxes for the three and nine months ended October 31, 2009 by applying the actual effective tax rate to the year-to-date pre-tax loss.

Net income for the third quarter was $38.8 million, inclusive of $6.2 million of after-tax charges associated with the closure of the Ruehl business and an $18.6 million benefit associated with the true up of the year-to-date tax rate.

As to liquidity, the Company ended the third quarter with $466.9 million in cash and cash equivalents, and borrowings under the credit agreement and outstanding letters of credit of $95.9 million.

Ruehl Update

As previously announced, on June 16, 2009 the Board of Directors approved the closure of the Company’s 29 Ruehl branded stores and related direct-to-consumer operations. The Company continues to anticipate that the closure will be complete by the end of the current fiscal year.

As compared to the prior estimate of $65 million, the Company now expects that it will incur aggregate pre-tax charges with a net present value of approximately $60 million to exit the Ruehl business, of which the Company incurred $10.1 million in the third quarter and $23.6 million in the second quarter. The estimate of total charges is based on a number of significant assumptions and could change materially. The remaining charges are expected to be substantially recognized during the fourth quarter of Fiscal 2009 in accordance with applicable accounting standards.

In addition to the $33.7 million in aggregate net pre-tax exit costs incurred to date, the Company incurred non-cash asset impairment charges related to Ruehl of $50.7 million and $0.8 million in the first and second quarters of Fiscal 2009, respectively.

The unaudited results for the third quarter also include the operating results for Ruehl as summarized in the table accompanying the condensed consolidated financial statements included with this press release.

Other Developments

During the quarter, the Company opened a flagship location in Milan with Abercrombie & Fitch and abercrombie kids stores, as well as two Hollister mall-based stores in the United Kingdom, one domestic Hollister store and one domestic abercrombie kids store.

Internationally, the Company remains on track to open an Abercrombie & Fitch flagship store in Tokyo in December as well as an additional five Hollister mall-based stores in Europe during the fourth quarter of Fiscal 2009 bringing the total European Hollister store count to 12.

The Company continues to expect total capital expenditures for Fiscal 2009 to be approximately $185 million. These capital expenditures include approximately $45 million related to information technology, distribution center and other home office projects, a substantial portion of which relates to systems to support the Company’s international roll-out.

In Fiscal 2010, the Company expects to open Abercrombie & Fitch flagship stores in Copenhagen, Denmark and Fukuoka, Japan. Additionally, the Company will open a Hollister Epic on Fifth Avenue in New York where it had previously been planning to open an abercrombie kids flagship.

The Board of Directors declared a quarterly cash dividend of $0.175 per share on the Class A Common Stock of Abercrombie & Fitch Co. payable on December 15, 2009 to shareholders of record at the close of business on November 27, 2009.

At quarter end, the Company operated 347 Abercrombie & Fitch stores, 209 abercrombie kids stores, 509 Hollister Co. stores, 27 RUEHL stores and 16 Gilly Hicks stores in the United States. The Company also operated three Abercrombie & Fitch stores, three abercrombie kids stores and six Hollister Co. stores in Canada, one Abercrombie & Fitch store and seven Hollister Co. stores in the United Kingdom and one Abercrombie & Fitch store and one abercrombie kids store in Italy. The Company operates e-commerce websites at www.abercrombie.com, www.abercrombiekids.com, www.hollisterco.com, www.RUEHL.com and www.gillyhicks.com.

Today at 8:30 AM, Eastern Time, the Company will conduct a conference call. Management will discuss the Company’s performance and its plans for the future and will accept questions from participants. To listen to the live conference call, dial (888) 637-7707 or internationally at (913) 312-0405. To listen via the Internet, go to www.abercrombie.com, select the Investors page and scroll through the Calendar of Events. Replays of the call will be available shortly after its completion. The audio replay can be accessed for two weeks following the reporting date by calling (888) 203-1112 or internationally at (719) 457-0820 followed by the conference ID number 7444736; or for 12 months by visiting the Company’s website at www.abercrombie.com.

# # # #


For further information, call:		Eric Cerny
		Manager, Investor Relations
		(614) 283-6385

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

A&F cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this Press Release or made by management of A&F involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond the Company’s control. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” and similar expressions may identify forward-looking statements. The following factors, in addition to those included in the disclosure under the heading “FORWARD-LOOKING STATEMENTS AND RISK FACTORS” in “ITEM 1A. RISK FACTORS” of A&F’s Annual Report on Form 10-K for the fiscal year ended January 31, 2009, in some cases have affected and in the future could affect the Company’s financial performance and could cause

actual results for the 2009 fiscal year and beyond to differ materially from those expressed or implied in any of the forward-looking statements included in this Press Release or otherwise made by management: current financial crisis and general economic conditions; effects of changes in the U.S. credit and lending market conditions; changes in consumer spending patterns and consumer preferences; the effects of political and economic events and conditions domestically and in foreign jurisdictions in which the Company operates, including, but not limited to, acts of terrorism or war; the impact of competition and pricing; changes in weather patterns; shipping rate increases and changes; availability and market prices of key raw materials; ability to source product from its global supplier base; political stability; currency and exchange risks and changes in existing or potential duties, tariffs or quotas; availability of suitable store locations at appropriate terms; ability to develop new merchandise; ability to hire, train and retain qualified associates; estimates of expenses which the Company may incur in connection with the closure of the Ruehl stores and related direct-to-consumer operations; and the outcome of pending litigation. Future economic and industry trends that could potentially impact revenue and profitability are difficult to predict. Therefore, there can be no assurance that the forward-looking statements included in this Press Release will prove to be accurate. In light of the significant uncertainties in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company, or any other person, that the objectives of the Company will be achieved. The forward-looking statements herein are based on information presently available to the management of the Company. Except as may be required by applicable law, the Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

# # # #

Abercrombie & Fitch Co.
Condensed Consolidated Statements of Operations
(Unaudited)
Thirteen Weeks Ended October 31, 2009 and Thirteen Weeks Ended November 1, 2008
(in thousands, except per share data)


	ACTUAL						ACTUAL
	2009			% of Sales			2008			% of Sales

Net Sales	$	765,401			100.0	%	$	896,344			100.0	%

Cost of Goods Sold		278,471			36.4	%		304,401			34.0	%


Gross Profit		486,930			63.6	%		591,943			66.0	%

Total Stores and Distribution Expense		370,064			48.3	%		386,545			43.1	%

Total Marketing, General and Administrative Expense		88,123			11.5	%		104,959			11.7	%

Other Operating (Income) Loss, Net		(1,609	)		-0.2	%		299			0.0	%


Operating Income		30,352			4.0	%		100,140			11.2	%

Interest Expense (Income), Net		461			0.1	%		(560	)		-0.1	%


Income Before Income Taxes		29,891			3.9	%		100,700			11.2	%

Tax (Benefit) Expense		(8,892	)		-1.2	%		36,800			4.1	%

Net Income	$	38,783			5.1	%	$	63,900			7.1	%


Net Income Per Share:
Basic	$	0.44					$	0.73
Diluted	$	0.44					$	0.72

Weighted-Average Shares Outstanding:
Basic		87,943						87,034
Diluted		88,730						88,806

Abercrombie & Fitch Co.
Condensed Consolidated Statements of Operations
(Unaudited)
Thirty-nine Weeks Ended October 31, 2009 and Thirty-nine Weeks Ended November 1, 2008
(in thousands, except per share data)


	ACTUAL						ACTUAL
	2009			% of Sales			2008			% of Sales

Net Sales	$	2,025,996			100.0	%	$	2,542,321			100.0	%

Cost of Goods Sold		720,379			35.6	%		823,243			32.4	%


Gross Profit		1,305,617			64.4	%		1,719,078			67.6	%

Total Stores and Distribution Expense		1,126,862			55.6	%		1,089,052			42.8	%

Total Marketing, General and Administrative Expense		269,331			13.3	%		318,681			12.5	%

Other Operating Income, Net		(6,277	)		-0.3	%		(3,396	)		-0.1	%


Operating (Loss) Income		(84,299	)		-4.2	%		314,741			12.4	%

Interest Income, Net		(2,691	)		-0.1	%		(9,963	)		-0.4	%


(Loss) Income Before Income Taxes		(81,608	)		-4.0	%		324,704			12.8	%

Tax (Benefit) Expense		(34,404	)		-1.7	%		120,856			4.8	%

Net (Loss) Income		(47,204	)		-2.3	%	$	203,848			8.0	%


Net (Loss) Income Per Share:
Basic		($0.54	)				$	2.35
Diluted		($0.54	)				$	2.27

Weighted-Average Shares Outstanding:
Basic		87,839						86,737
Diluted		87,839						89,636

Abercrombie & Fitch Co.
Condensed Consolidated Balance Sheets
(in thousands)


	(Unaudited)
	October 31, 2009		January 31, 2009
ASSETS

Current Assets
Cash and Equivalents	$	466,887	$	522,122
Marketable Securities		55,985		—
Receivables		73,994		53,110
Inventories		347,180		372,422
Deferred Income Taxes		82,034		43,408
Other Current Assets		108,624		93,763


Total Current Assets		1,134,704		1,084,825

Property and Equipment, Net		1,318,864		1,398,655

Non-Current Marketable Securities		130,250		229,081

Other Assets		180,526		135,620


TOTAL ASSETS	$	2,764,344	$	2,848,181


LIABILITIES AND SHAREHOLDERS’ EQUITY

Current Liabilities
Accounts Payable and Outstanding Checks	$	193,779	$	149,753
Accrued Expenses		224,955		241,231
Deferred Lease Credits		43,947		42,358
Income Taxes Payable		9,332		16,455


Total Current Liabilities		472,013		449,797

Long-Term Liabilities
Deferred Income Taxes		40,495		34,085
Deferred Lease Credits		196,616		211,978
Borrowings under Credit Agreement		50,582		100,000
Other Liabilities		226,262		206,743


Total Long-Term Liabilities		513,955		552,806

Total Shareholders’ Equity		1,778,376		1,845,578


TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	2,764,344	$	2,848,181

Abercrombie & Fitch Co.
Ruehl Operating Results ⁽¹⁾
(Unaudited)
(in thousands)


	Thirteen Weeks Ended						Thirty-nine Weeks Ended
	October 31,			November 1,			October 31,			November 1,
	2009			2008			2009			2008

NET SALES	$	11,717		$	13,533		$	33,361		$	39,072

Cost of Goods Sold		7,874			6,555			16,800			17,240


GROSS PROFIT		3,843			6,978			16,561			21,832

Stores and Distribution Expense⁽²⁾		20,702			12,982			114,895			37,706
Marketing, General and Administrative Expense ⁽³⁾		256			3,584			8,452			10,897
Other Operating Income, Net		—			(8	)		(11	)		(49	)


OPERATING LOSS		(17,114	)		(9,580	)		(106,774	)		(26,721	)


⁽¹⁾		The results include Ruehl store and direct-to-consumer operating results and home office and other costs directly attributable to Ruehl operations.

⁽²⁾		Stores and Distribution Expense includes non-cash pre-tax asset impairment charges of approximately $48.5 million during the thirty-nine weeks ended October 31, 2009 and costs associated with the closure of the Ruehl business, primarily due to net lease terminations, of approximately $10.1 million and $33.1 million during the thirteen and thirty-nine weeks ended October 31, 2009, respectively.

⁽³⁾		Marketing, General and Administrative Expense includes non-cash pre-tax asset impairment charges of approximately $3.0 million and severance charges of approximately $0.6 million during the thirty-nine weeks ended October 31, 2009.

Reconciliation of GAAP to non-GAAP financial measures

This press release contains non-GAAP financial measures reflecting adjustments to the Company’s net income and net income per diluted share for the thirteen and thirty-nine weeks ended October 31, 2009. Provided in the tables below are reconciliations between the relevant GAAP financial measures and the non-GAAP financial measures contained in this press release. As used herein, “GAAP” refers to accounting principles generally accepted in the United States of America.

The Company believes that the non-GAAP financial measures presented in the press release and below in the reconciliation tables are useful to investors as they provide the ability to measure the Company’s operating performance and compare it against that of prior periods without reference to the statement of operations impact of costs and impairment charges associated with the closure of Ruehl branded stores and related direct-to-consumer operations and the benefit associated with the true-up of the year-to-date tax rate. These non-GAAP financial measures should not be used as alternatives to net income and net income per diluted share as indicators of the ongoing operating performance of the Company and are also not intended to supersede or replace the Company’s GAAP financial measures.

Abercrombie & Fitch Co.
Reconciliation of Net Income Per Diluted Share on a GAAP Basis to Net Income Per Diluted Share on a Non-GAAP Basis
(Unaudited)
Thirteen Weeks Ended October 31, 2009
(in thousands)


							Non-GAAP Adjustments
				Non-GAAP			Attributed to Benefit
	GAAP			Adjustments Attributed			Associated with True Up in			Non-GAAP
	Amounts			to Ruehl ⁽¹⁾			Year-to-Date Tax Rate ⁽²⁾			Amounts
Net Sales	$	765,401			—			—		$	765,401
Cost of Goods Sold		278,471			—			—			278,471

Gross Profit		486,930			—			—			486,930
Total Stores and Distribution Expense		370,064			10,094			—			359,970
Total Marketing, General and Administrative Expense		88,123			—			—			88,123
Other Operating Income, Net		(1,609	)		—			—			(1,609	)

Operating Income		30,352			(10,094	)		—			40,446
Interest Expense, Net		461			—			—			461

Income Before Income Taxes		29,891			(10,094	)		—			39,985
Tax (Benefit) Expense		(8,892	)		(3,937	)		(18,609	)		13,654

Net Income	$	38,783			($6,157	)	$	18,609		$	26,331
Net Income Per Share:
Basic	$	0.44								$	0.30
Diluted	$	0.44								$	0.30
Weighted-Average Shares Outstanding:
Basic		87,943									87,943
Diluted		88,730									88,730


⁽¹⁾		During the thirteen weeks ended October 31, 2009, the Company recorded charges associated with the closure of Ruehl branded stores and related direct-to-consumer operations. These charges were primarily related to net lease termination costs.

⁽²⁾		During the thirteen weeks ended October 31, 2009, the Company recorded a benefit associated with the true up of the year-to-date tax rate.

Abercrombie & Fitch Co.
Reconciliation of Net Loss Per Diluted Share on a GAAP Basis to Net Income Per Diluted Share on a Non-GAAP Basis
(Unaudited)
Thirty-Nine Weeks Ended October 31, 2009
(in thousands)


							Non-GAAP
				Non-GAAP Adjustments			Adjustments Attributed
				Attributed to Charges			to Non-Cash Asset
	GAAP			Associated with the Closure			Impairment Charges			Non-GAAP
	Amounts			of the Ruehl Business ⁽¹⁾			⁽²⁾			Amounts
Net Sales	$	2,025,996			—			—		$	2,025,996
Cost of Goods Sold		720,379			—			—			720,379

Gross Profit		1,305,617			—			—			1,305,617
Total Stores and Distribution Expense		1,126,862			33,108			48,517			1,045,237
Total Marketing, General and Administrative Expense		269,331			613			3,019			265,699
Other Operating Income, Net		(6,277	)								(6,277	)

Operating (Loss) Income		(84,299	)		(33,721	)		(51,536	)		958
Interest Income, Net		(2,691	)								(2,691	)

(Loss) Income Before Income Taxes		(81,608	)		(33,721	)		(51,536	)		3,649
Tax Benefit		(34,404	)		(13,151	)		(20,099	)		(1,154	)

Net (Loss) Income		($47,204	)	$	(20,570	)	$	(31,437	)	$	4,803
Net (Loss) Income Per Share:
Basic		($0.54	)							$	0.05
Diluted		($0.54	)							$	0.05
Weighted-Average Shares Outstanding:
Basic		87,839									87,839
Diluted		87,839									87,839


⁽¹⁾		During the thirty-nine weeks ended October 31, 2009, the Company recorded charges associated with the closure of Ruehl branded stores and related direct-to-consumer operations. These charges were primarily related to net lease termination and severance costs.

⁽²⁾		During the thirty-nine weeks ended October 31, 2009, the Company recorded non-cash asset impairment charges related to the closure of Ruehl branded stores and related direct-to-consumer operations.