Abercrombie & Fitch Reports July Net Sales Increase 2%
August 07 2008 - 9:00AM
PR Newswire (US)
NEW ALBANY, Ohio, Aug. 7 /PRNewswire-FirstCall/ -- Abercrombie
& Fitch (NYSE:ANF) today reported net sales of $303.1 million
for the four-week period ended August 2, 2008, a 2% increase over
net sales of $296.4 million for the four-week period ended August
4, 2007. July comparable store sales decreased 7%. Total Company
direct-to-consumer net sales increased 14% to $18.3 million for the
four-week period ended August 2, 2008, compared to the four-week
period ended August 4, 2007. Year-to-date, the Company reported a
net sales increase of 6% to $1.646 billion from $1.547 billion last
year. Comparable store sales decreased 4% for the year-to-date
period. Year-to-date, the Company reported that direct-to-consumer
net sales increased 33% to $118.4 million. July 2008 Developments
-- Total Company net sales increased 2% -- Total Company
direct-to-consumer net sales increased 14% -- Total Company
comparable store sales decreased 7% -- Abercrombie & Fitch
comparable store sales increased 1% -- abercrombie comparable store
sales decreased 15% -- Hollister Co. comparable store sales
decreased 11% -- RUEHL comparable store sales decreased 25% Based
upon lower than expected July sales, the Company now expects to
report earnings per diluted share for the first half of the year of
$1.55, which includes $0.01 related to charges associated with the
departure of a senior executive. The Company will release its
second quarter results on Friday, August 15, 2008. At that time,
the Company will provide additional information about its second
quarter results and will give guidance on the second half of the
fiscal year. The Company operated a total of 353 Abercrombie &
Fitch stores, 209 abercrombie stores, 479 Hollister Co. stores, 25
RUEHL stores and eight Gilly Hicks stores in the United States at
the end of fiscal July. The Company operates three Abercrombie
& Fitch stores and three Hollister Co. stores in Canada, and
one Abercrombie & Fitch store in London, England. The Company
operates e-commerce websites at http://www.abercrombie.com/,
http://www.abercrombiekids.com/, http://www.hollisterco.com/ and
http://www.ruehl.com/. To hear the Abercrombie & Fitch
pre-recorded July sales message, please dial (800) 395-0662, or
internationally, dial (402) 220-1262. The Company will release its
second quarter results on Friday, August 15, 2008, prior to the
open of the market and hold a conference call at 8:30 AM Eastern
Time. To listen to the conference call, dial (800) 811-0667 and ask
for the Abercrombie & Fitch Quarterly Call or go to
http://www.abercrombie.com/. The international call-in number is
(913) 981- 4901. This call will be recorded and made available by
dialing the replay number (888) 203-1112 or the international
number (719) 457-0820, followed by the conference ID number 7331496
or through http://www.abercrombie.com/. 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 February 2, 2008, in some cases have affected and
in the future could affect the Company's financial performance and
could cause actual results for the 2008 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: 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; postal rate increases and changes; paper and
printing costs; market price 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 associates; 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. DATASOURCE: Abercrombie & Fitch
CONTACT: Investor Relations, Brian Logan, +1-614-283-6877, or Eric
Cerny, +1-614-283-6385, both for Abercrombie & Fitch Web site:
http://www.abercrombie.com/
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