Abercrombie & Fitch 1998 Annual Report Download - page 24

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TO THE BOARD OF DIRECTORS AND SHAREHOLDERS OF ABERCROMBIE & FITCH CO.
In our opinion, the accompanying consolidated balance sheets and the related consolidated
statements of income, shareholders’ equity (deficit), and cash flows present fairly, in all material
respects, the consolidated financial position of Abercrombie & Fitch Co. and its subsidiaries
at January 30, 1999 and January 31, 1998, and the consolidated results of their operations and
their cash flows for each of the three fiscal years in the period ended January 30, 1999 (on pages
19 to 29) in conformity with generally accepted accounting principles. These financial state-
ments are the responsibility of the Company’s management; our responsibility is to express an
opinion on these financial statements based on our audits. We conducted our audits of these
consolidated statements in accordance with generally accepted auditing standards which
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis
for the opinion expressed above.
PricewaterhouseCoopers LLP
Columbus, Ohio
February 16, 1999
REPORT OF INDEPENDENT ACCOUNTANTS
30
Abercrombie &Fitch Co.