NEW ALBANY, Ohio, July 2 /PRNewswire-FirstCall/ -- Abercrombie
& Fitch (NYSE: ANF) today reported that the bedbug problem in
its Hollister store in SoHo has been eliminated and the store will
reopen Saturday morning at 10:00
a.m.
The Company will be temporarily closing its Abercrombie &
Fitch South Street Seaport store to deal with a similar problem.
The Company has requested guidance from the Mayor's office on how
businesses in Manhattan should
deal with this issue. In the meantime, the Company's first priority
continues to be its customers and associates. The Company's
Abercrombie & Fitch Fifth Avenue store has been tested and is
not affected.
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 30,
2010, in some cases have affected and in the future could
affect the Company's financial performance and could cause actual
results for the 2010 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: general and financial economic 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; effects of greenhouse
emissions and climate change; 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 associates;
effects from the potential loss of services of skilled senior
executive officers or inadequate succession planning for key
positions; effects of equity-based compensation awarded under the
Employment Agreement with the Company's Chief Executive Officer;
and the outcome of pending litigation or other adversarial
proceedings. 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.
July 2, 2010
Mayor Michael Bloomberg
City Hall
New York, New York 10007
Dear Mayor Bloomberg:
We are very concerned about the growing infestation of bedbugs
in New York City. For the
first time in our retail experience managing 1,100 stores, we
discovered an infestation in our Epic Hollister store and the South
Street Seaport Abercrombie & Fitch store.
We made the decision to act with caution by closing both stores
to assure we have rid them of the problem.
There is a real revenue loss involved in our decision but we
felt closing was in the best interest of our customers and
associates. The Epic Hollister store reopens Saturday; today
we closed the South Street Seaport Abercrombie &Fitch store
when overnight testing revealed the presence of bedbugs.
We think it is a serious subject and look to you for leadership
and guidance on how best to respond to this problem. We are
willing to be a part of any coalition to address the issue.
Please let us know what plans are in place and how we may
participate.
Sincerely,
Michael S. Jeffries
Chairman and CEO
Abercrombie & Fitch
cc: Ms. Linda Gibbs
Deputy Mayor for Health and Human Services
Ms. Linda B. Rosenthal
New York State Assembly
Woman
SOURCE Abercrombie & Fitch