NEW ALBANY, Ohio, Aug. 5 /PRNewswire-FirstCall/ -- Abercrombie
& Fitch (NYSE: ANF) today reported net sales of $270.9 million for the four-week period ended
July 31, 2010, a 17% increase from
net sales of $232.3 million for the
four-week period ended August 1,
2009. July comparable store sales increased 7%.
For the fiscal month, total Company direct-to-consumer net
merchandise sales increased 51% to $23.6
million. For the fiscal month, total Company
international net sales, including direct-to-consumer net sales,
increased 81% to $47.0 million.
For the fiscal quarter ended July 31,
2010, the Company reported net sales of $745.8 million, a 17% increase from net sales of
$637.2 million last year.
Comparable store sales increased 5% for the quarter. For the
quarter, total Company direct-to-consumer net merchandise sales
increased 50% to $69.0 million.
For the quarter, total Company international net sales,
including direct-to-consumer net sales, increased 85% to
$133.2 million.
Year-to-date, the Company reported net sales of $1.434 billion, a 16% increase from net sales of
$1.239 billion last year.
Comparable store sales increased 3% for the year-to-date
period. Year- to-date, total Company direct-to-consumer net
merchandise sales increased 46% to $137.7
million. Year-to-date, total Company international net
sales, including direct-to-consumer net sales, increased 93% to
$252.2 million.
Additional information regarding sales for fiscal July can be
found in a pre-recorded message accessible by dialing (800)
395-0662, or, internationally, by dialing (402) 220-1262.
July 2010 Highlights
- Total Company net sales, including direct-to-consumer net
sales, increased 17%
- Total Company domestic net sales, including direct-to-consumer
net sales, increased 8%
- Total Company international net sales, including
direct-to-consumer net sales, increased 81%
- Total Company comparable store sales increased 7%
- Total Company direct-to-consumer net merchandise sales
increased 51%
- Abercrombie & Fitch comparable store sales increased
10%
- abercrombie kids comparable store sales increased 1%
- Hollister Co. comparable store sales increased 4%
Other Developments
The Company will release its second quarter results on
Tuesday, August 17, 2010 prior to the
opening of the market and hold a conference call at 8:30 AM Eastern Time. To listen to the
conference call, dial (888) 211-4434 and ask for the Abercrombie
& Fitch Quarterly Call or go to www.abercrombie.com. The
international call-in number is (913) 312-0711. 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 4865283 or through www.abercrombie.com.
At fiscal month end, the Company operated a total of 1,098
stores. The Company operated 339 Abercrombie & Fitch
stores, 202 abercrombie kids stores, 509 Hollister Co. stores and
17 Gilly Hicks stores in the United
States. The Company also operated six Abercrombie
& Fitch stores, four abercrombie kids stores and 21 Hollister
Co. stores internationally. The Company also operates e-commerce
websites at www.abercrombie.com, www.abercrombiekids.com,
www.hollisterco.com and www.gillyhicks.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 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 economic and financial conditions could have a
material adverse effect on the Company's business, results of
operations and liquidity; loss of the services of skilled senior
executive officers could have a material adverse effect on the
Company's business; ability to hire, train and retain qualified
associates could have a material adverse effect on the Company's
business; equity-based compensation awarded under the employment
agreement with the Company's Chief Executive Officer could
adversely impact the Company's cash flows, financial position or
results of operations and could have a dilutive effect on the
Company's outstanding Common Stock; failure to anticipate, identify
and respond to changing consumer preferences and fashion trends in
a timely manner could cause the Company's profitability to decline;
unseasonable weather conditions affecting consumer preferences
could have a material adverse effect on the Company's business;
disruptive weather conditions affecting the consumers' ability to
shop could have a material adverse effect on the Company's
business; the Company's market share may be adversely impacted at
any time by a significant number of competitors; the Company's
international expansion plan is dependent on many factors, any of
which could delay or prevent successful penetration into new
markets and strain its resources; the Company's growth strategy
relies on the addition of new stores, which may strain the
Company's resources and adversely impact current store performance;
the Company may incur costs related to store closures; availability
and market prices of key raw materials could have a material
adverse effect on the Company's business and results of operations;
the interruption of the flow of merchandise from key vendors and
international manufacturers could disrupt the Company's supply
chain; the Company does not own or operate any manufacturing
facilities and therefore depends upon independent third parties for
the manufacture of all its merchandise; the Company's reliance on
two distribution centers domestically located in the same vicinity,
and one distribution center internationally, makes it susceptible
to disruptions or adverse conditions affecting its distribution
centers; the Company's reliance on third parties to deliver
merchandise from its distribution centers to its stores and
direct-to-consumer customers could result in disruptions to its
business; the Company's development of new brand concepts could
have a material adverse effect on the Company's financial condition
or results of operations; fluctuations in foreign currency exchange
rates could adversely impact financial results; the Company's net
sales and inventory levels fluctuate on a seasonal basis, causing
its results of operations to be particularly susceptible to changes
to back-to-school and holiday shopping patterns; the Company's
ability to attract customers to its stores depends heavily on the
success of the shopping centers in which they are located;
comparable store sales will continue to fluctuate on a regular
basis; the Company's net sales are affected by direct-to-consumer
sales; the Company may be exposed to risks and costs associated
with credit card fraud and identity theft; the Company's litigation
exposure could exceed expectations, having a material adverse
effect on the Company's financial condition or results of
operations; the Company's failure to adequately protect its
trademarks could have a negative impact on its brand image and
limit its ability to penetrate new markets; the Company's unsecured
credit agreement includes financial and other covenants that impose
restrictions on its financial and business operations; changes in
taxation requirements could adversely impact financial results; the
Company's inability to obtain commercial insurance at acceptable
prices or failure to adequately reserve for self-insured exposures
might increase expense and adversely impact financial results;
modifications and/or upgrades to information technology systems may
disrupt operations; the Company could suffer if the Company's
computer systems are disrupted or cease to operate effectively;
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
could have a material adverse effect on the Company's business;
potential disruption of the Company's business due to the
occurrence of, or fear of, a health pandemic could have a material
adverse effect on the Company's business; changes in the regulatory
or compliance landscape could adversely effect the Company's
business or results of operations; and the Company's operations may
be effected by greenhouse emissions and climate change.
SOURCE Abercrombie & Fitch
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