Abercrombie & Fitch Reports July Sales Results
August 05 2004 - 9:00AM
PR Newswire (US)
Abercrombie & Fitch Reports July Sales Results NEW ALBANY,
Ohio, Aug. 5 /PRNewswire-FirstCall/ -- Abercrombie & Fitch
(NYSE:ANF) today reported net sales of $143.7 million for the
four-week period ended July 31, 2004, an 8% increase over last
year's July sales of $133.2 million. July comparable store sales
decreased 9% compared with the four-week period ended August 2,
2003. Year-to-date, the Company reported a net sales increase of
16% to $813.3 million from $702.4 million last year. Comparable
store sales declined 3% for the year-to-date period. The Company
said that based on continued margin improvement, tight inventory
and expense controls it expects second quarter EPS in the range of
$0.42 to $0.44 per diluted share versus $0.35 last year.
Abercrombie & Fitch operated a total of 727 stores at the end
of July, including 171 abercrombie stores and 197 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 July 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 Press Release, A&F'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 Press 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 Press 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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