Abercrombie & Fitch Reports November Sales Increase of 17%
December 02 2004 - 8:00AM
PR Newswire (US)
Abercrombie & Fitch Reports November Sales Increase of 17% NEW
ALBANY, Ohio, Dec. 2 /PRNewswire-FirstCall/ -- Abercrombie &
Fitch (NYSE:ANF) today reported net sales of $188.0 million for the
four-week period ended November 27, 2004, a 17% increase over last
year's November sales of $161.2 million. November comparable store
sales increased 2% compared to the four-week period ended November
29, 2003. Year-to-date, the Company reported a net sales increase
of 16% to $1.522 billion from $1.309 billion last year. Comparable
store sales decreased 1% for the year-to-date period. The Company
reported that comparable store sales were strongest in the first
and third weeks of the month, and weakest in the second and fourth
weeks. Last year the Company implemented an aggressive markdown
program in the beginning of the second week of the month that the
Company did not anniversary this year. The Company also issued 15%
off direct mail coupons, which were redeemable from the Friday
after Thanksgiving through Christmas Eve. The Company did not
anniversary the 15% off coupons this holiday shopping season. The
Company operated 363 Abercrombie & Fitch stores, 176
abercrombie stores, 238 Hollister Co. stores and 3 RUEHL stores at
the end of November. 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 November 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, and the outcome of pending litigation.
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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