Robert S. Singer Named Abercrombie & Fitch President and Chief Operating Officer
May 18 2004 - 5:44PM
PR Newswire (US)
Robert S. Singer Named Abercrombie & Fitch President and Chief
Operating Officer NEW ALBANY, Ohio, May 18 /PRNewswire-FirstCall/
-- Abercrombie & Fitch announced today that it has named Robert
S. Singer President and Chief Operating Officer. Seth R. Johnson,
who has been the company's Executive Vice President and Chief
Operating Officer, has announced his retirement, effective June 18,
2004. "Bob has world-class financial and operational credentials. I
am thrilled to welcome him to the Abercrombie & Fitch
leadership team," said Mike Jeffries, Chairman and CEO of
Abercrombie & Fitch. "At the same time, on behalf of the Board,
I want to thank Seth for all that he has done for our company. He
has been a valuable member of our executive team and I appreciate
the leadership he has provided over the last 12 years." As
President and Chief Operating Officer, Singer will be responsible
for the day-to-day operations of the company as well as for
implementing the strategies and systems to support the continued
growth of the company's retail formats. Singer, 52, joins
Abercrombie & Fitch from Gucci Group where he had served as
Chief Financial Officer since its Initial Public Offering in 1995.
He served as Executive Vice President from 1999 as the Group grew
from one to nine operating divisions. Prior to joining Gucci, he
was an audit partner and member of the Management Committee in
Italy of Coopers and Lybrand (predecessor to
PriceWaterhouseCoopers), a firm for which he also worked in New
York during a 19-year career. "I am very proud to join A&F. The
company and its brands have enjoyed extraordinary success which I
believe has been driven by the commitment to and passion for
excellence of Mike Jeffries and his team. I look forward to working
with them and contributing to the future growth of the company,"
said Mr. Singer. Singer, who has lived in Italy for more than 20
years, is an American. He holds an undergraduate degree in
Humanities from Johns Hopkins University as well as Masters degrees
in Comparative Literature from the University of California, Irvine
and in Accounting from New York University. 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 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 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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