Abercrombie & Fitch Reports October Sales Results
November 04 2010 - 8:00AM
Marketwired
Abercrombie & Fitch (NYSE: ANF) today reported net sales of
$226.8 million for the four-week period ended October 30, 2010, a
13% increase from net sales of $200.2 million for the four-week
period ended October 31, 2009. October comparable store sales
increased 2%. For the fiscal month, total Company
direct-to-consumer net merchandise sales increased 11% to $23.6
million. For the fiscal month, total Company international net
sales, including direct-to-consumer net sales, increased 86% to
$53.0 million.
For the fiscal quarter ended October 30, 2010, the Company
reported net sales of $885.8 million, an 18% increase from net
sales of $753.7 million last year. Comparable store sales increased
7% for the quarter. For the quarter, total Company
direct-to-consumer net merchandise sales increased 32% to $81.4
million. For the quarter, total Company international net sales,
including direct-to-consumer net sales, increased 87% to $164.1
million.
Year-to-date, the Company reported net sales of $2.319 billion,
a 16% increase from net sales of $1.993 billion last year.
Comparable store sales increased 5% for the year-to-date period.
Year- to-date, total Company direct-to-consumer net merchandise
sales increased 40% to $219.1 million. Year-to-date, total Company
international net sales, including direct-to-consumer net sales,
increased 90% to $416.3 million.
Additional information regarding sales for fiscal October can be
found in a pre-recorded message accessible for two weeks from
today, by dialing (800) 395-0662 or, internationally, by dialing
(402) 220-1262.
October 2010 Highlights
- Total Company net sales, including direct-to-consumer net
sales, increased 13%
- Total Company domestic net sales, including direct-to-consumer
net sales, increased 1%
- Total Company international net sales, including
direct-to-consumer net sales, increased 86%
- Total Company comparable store sales increased 2%
- Total Company direct-to-consumer net merchandise sales
increased 11%
- Abercrombie & Fitch comparable store sales increased
3%
- abercrombie kids comparable store sales decreased 4%
- Hollister Co. comparable store sales increased 2%
Other Developments Effective Fiscal 2011,
the Company will discontinue reporting sales results on a monthly
basis and will report quarterly sales results on the first Thursday
following the close of each fiscal quarter. The Company will
continue to report monthly sales results for the remainder of
Fiscal 2010.
The Company will hold an investor relations day in April 2011 at
its home office campus in New Albany, OH. The tentative date is
Tuesday, April 5, 2011. For further information, please send
inquiries to IRDay2011@abercrombie.com.
The Company will release its third quarter results on Tuesday,
November 16, 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 (800) 289-0468 and ask for the Abercrombie
& Fitch Quarterly Call or go to www.abercrombie.com. The
international call-in number is (913) 312-9321. 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 4069400 or through www.abercrombie.com.
An investor presentation of third quarter results will be
available in the "Investors" section of the Company's website at
www.abercrombie.com at approximately 8:00 AM, Eastern Time,
Tuesday, November 16, 2010.
At fiscal month end, the Company operated a total of 1,106
stores. The Company operated 340 Abercrombie & Fitch stores,
201 abercrombie kids stores, 510 Hollister Co. stores and 17 Gilly
Hicks stores in the United States. The Company also operated seven
Abercrombie & Fitch stores, four abercrombie kids stores and 27
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 and labor costs 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 affect the Company's
business or results of operations; and the Company's operations may
be effected by greenhouse emissions and climate change.
For further information, call: Eric Cerny Manager, Investor
Relations (614) 283-6385
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