Abercrombie & Fitch Reports March Sales Results; Company Will Exceed Previous EPS Guidance
April 08 2004 - 9:00AM
PR Newswire (US)
Abercrombie & Fitch Reports March Sales Results; Company Will
Exceed Previous EPS Guidance NEW ALBANY, Ohio, April 8
/PRNewswire-FirstCall/ -- Abercrombie & Fitch today reported
net sales of $169.6 million for the five-week period ended April 3,
2004, an 18% increase over last year's March sales of $144.1
million. March comparable store sales decreased 1% compared with
the five-week period ended April 5, 2003. Year-to-date, the Company
reported a net sales increase of 19% to $290.2 million from $244.1
million last year. Comparable store sales were flat for the
year-to-date period. The Company said that based on March results,
it expects first quarter EPS to be in the range of $0.28 to $0.30
per diluted share versus $0.26 in the first quarter of last year.
Abercrombie & Fitch operated a total of 705 stores at the end
of March, including 170 abercrombie stores and 177 Hollister Co.
stores. The Company operates e-commerce websites at
http://www.abercrombie.com/ , http://www.abercrombiekids.com/ , and
http://www.hollisterco.com/ . To hear Abercrombie & Fitch's
prerecorded March 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 Release, the Company's Form 10-K 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 "RISK FACTORS" in "ITEM 1. BUSINESS" of A&F's
Annual Report on Form 10-K for the fiscal year ended January 31,
2004, in some cases have affected and in the future could affect
the Company's financial performance and could cause actual results
for the 2004 fiscal year and beyond to differ materially from those
expressed or implied in any of the forward-looking statements
included in thisAnnual Report on Form 10-K 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; and abilityto hire,
train and retain associates. 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 Annual Report on Form
10-K 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: Thomas D. Lennox, Director,
Investor Relations and Corporate Communications of Abercrombie
& Fitch, +1-614-283-6751 Web site: http://www.abercrombie.com/
http://www.abercrombiekids.com/ http://www.hollisterco.com/
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