Abercrombie & Fitch Reports August Net Sales Decrease 5%
September 04 2008 - 8:00AM
PR Newswire (US)
NEW ALBANY, Ohio, Sept. 4 /PRNewswire-FirstCall/ -- Abercrombie
& Fitch (NYSE:ANF) today reported net sales of $405.5 million
for the four-week period ended August 30, 2008, a 5% decrease over
net sales of $425.4 million for the four-week period ended
September 1, 2007. August comparable store sales decreased 11%.
Total Company direct-to-consumer net sales decreased 8% to $18.9
million for the four-week period ended August 30, 2008, compared to
the four-week period ended September 1, 2007. Year-to-date, the
Company reported a net sales increase of 4% to $2.051 billion from
$1.972 billion last year. Comparable store sales decreased 5% for
the year-to-date period. Year-to-date, the Company reported that
direct- to-consumer net sales increased 25% to $137.3 million.
August 2008 Developments -- Total Company net sales decreased 5% --
Total Company direct-to-consumer net sales decreased 8% -- Total
Company comparable store sales decreased 11% -- Abercrombie &
Fitch comparable store sales decreased 5% -- abercrombie comparable
store sales decreased 17% -- Hollister Co. comparable store sales
decreased 14% -- RUEHL comparable store sales decreased 25% The
Company operated 352 Abercrombie & Fitch stores, 209
abercrombie stores, 486 Hollister Co. stores, 25 RUEHL stores and
10 Gilly Hicks stores in the United States at the end of fiscal
August. The Company operates three Abercrombie & Fitch stores,
one abercrombie store, 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/, and http://www.hollisterco.com/
and http://www.ruehl.com/ To hear the Abercrombie & Fitch
pre-recorded August sales message, please dial (800) 395-0662, or
internationally, dial (402) 220-1262. 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: Investors, Eric Cerny, Manager, +1-614-283-6385, for
Abercrombie & Fitch Web site: http://www.abercrombie.com/
http://www.abercrombiekids.com/
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