Abercrombie & Fitch Executive Vice President/COO Seth R. Johnson Announces Retirement
May 18 2004 - 5:41PM
PR Newswire (US)
Abercrombie & Fitch Executive Vice President/COO Seth R.
Johnson Announces Retirement NEW ALBANY, Ohio, May 18
/PRNewswire-FirstCall/ -- Abercrombie & Fitch announced today
that Seth R. Johnson, Executive Vice President/ Chief Operating
Officer and Board Member will retire from the company effective
June 18, 2004. "Seth has been a valuable member of our executive
team and I appreciate the leadership he has provided over the last
12 years," said Mike Jeffries, Chairman and Chief Executive
Officer. "He helped build the Abercrombie & Fitch brand to what
it is today. The company's Board of Directors and associates are
truly grateful for his contributions and we wish him happiness and
success in his retirement." Mr. Johnson, 50, joined Abercrombie
& Fitch in February 1992 as Vice President - Chief Financial
Officer. He played an instrumental role in the company's initial
public offering, which was completed in September of 1996 and the
company's spin-off from Limited Brands in May 1998. He was promoted
to Executive Vice President / COO in February 2000. "I've had a
wonderful 12 years at Abercrombie & Fitch. It's a great company
and I'm confident it will have continued success in the future,"
said Mr. Johnson. Abercrombie & Fitch operated a total of 706
stores at the end of the first fiscal quarter, 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/ .
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 this
Sales 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; and ability to 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 Sales 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: 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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